{"id":"https://openalex.org/W7138244801","doi":"https://doi.org/10.1609/aaai.v40i20.38756","title":"Sequential Selling with Sunk Cost Bias","display_name":"Sequential Selling with Sunk Cost Bias","publication_year":2026,"publication_date":"2026-03-14","ids":{"openalex":"https://openalex.org/W7138244801","doi":"https://doi.org/10.1609/aaai.v40i20.38756"},"language":null,"primary_location":{"id":"doi:10.1609/aaai.v40i20.38756","is_oa":true,"landing_page_url":"https://doi.org/10.1609/aaai.v40i20.38756","pdf_url":"https://ojs.aaai.org/index.php/AAAI/article/download/38756/42718","source":{"id":"https://openalex.org/S4210191458","display_name":"Proceedings of the AAAI Conference on Artificial Intelligence","issn_l":"2159-5399","issn":["2159-5399","2374-3468"],"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/P4310320058","host_organization_name":"Association for the Advancement of Artificial Intelligence","host_organization_lineage":["https://openalex.org/P4310320058"],"host_organization_lineage_names":["Association for the Advancement of Artificial Intelligence"],"type":"conference"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the AAAI Conference on Artificial Intelligence","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ojs.aaai.org/index.php/AAAI/article/download/38756/42718","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5129654020","display_name":"Yasushi Kawase","orcid":null},"institutions":[{"id":"https://openalex.org/I4210126580","display_name":"RIKEN Center for Advanced Intelligence Project","ror":"https://ror.org/03ckxwf91","country_code":"JP","type":"facility","lineage":["https://openalex.org/I4210110652","https://openalex.org/I4210126580"]}],"countries":["JP"],"is_corresponding":true,"raw_author_name":"Yasushi Kawase","raw_affiliation_strings":["The University of Tokyo\nRIKEN Center for Advanced Intelligence Project"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The University of Tokyo\nRIKEN Center for Advanced Intelligence Project","institution_ids":["https://openalex.org/I4210126580"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5093449394","display_name":"Tomohiro Nakayoshi","orcid":null},"institutions":[{"id":"https://openalex.org/I74801974","display_name":"The University of Tokyo","ror":"https://ror.org/057zh3y96","country_code":"JP","type":"education","lineage":["https://openalex.org/I74801974"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Tomohiro Nakayoshi","raw_affiliation_strings":["The University of Tokyo"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The University of Tokyo","institution_ids":["https://openalex.org/I74801974"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5129654020"],"corresponding_institution_ids":["https://openalex.org/I4210126580"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.37007874,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"40","issue":"20","first_page":"17076","last_page":"17083"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.6085000038146973,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.6085000038146973,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10328","display_name":"Supply Chain and Inventory Management","score":0.20399999618530273,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.03590000048279762,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/sunk-costs","display_name":"Sunk costs","score":0.9544000029563904},{"id":"https://openalex.org/keywords/profit","display_name":"Profit (economics)","score":0.6434000134468079},{"id":"https://openalex.org/keywords/dynamic-inconsistency","display_name":"Dynamic inconsistency","score":0.5146999955177307},{"id":"https://openalex.org/keywords/opportunity-cost","display_name":"Opportunity cost","score":0.4699999988079071},{"id":"https://openalex.org/keywords/function","display_name":"Function (biology)","score":0.43059998750686646},{"id":"https://openalex.org/keywords/mental-accounting","display_name":"Mental accounting","score":0.424699991941452},{"id":"https://openalex.org/keywords/implicit-cost","display_name":"Implicit cost","score":0.3781000077724457},{"id":"https://openalex.org/keywords/retard","display_name":"Retard","score":0.30660000443458557},{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.29589998722076416}],"concepts":[{"id":"https://openalex.org/C79179835","wikidata":"https://www.wikidata.org/wiki/Q958242","display_name":"Sunk costs","level":2,"score":0.9544000029563904},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.6434000134468079},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5932999849319458},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.5539000034332275},{"id":"https://openalex.org/C127729010","wikidata":"https://www.wikidata.org/wiki/Q60165","display_name":"Dynamic inconsistency","level":2,"score":0.5146999955177307},{"id":"https://openalex.org/C68359772","wikidata":"https://www.wikidata.org/wiki/Q185715","display_name":"Opportunity cost","level":2,"score":0.4699999988079071},{"id":"https://openalex.org/C14036430","wikidata":"https://www.wikidata.org/wiki/Q3736076","display_name":"Function (biology)","level":2,"score":0.43059998750686646},{"id":"https://openalex.org/C159144042","wikidata":"https://www.wikidata.org/wiki/Q1107958","display_name":"Mental accounting","level":2,"score":0.424699991941452},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.423799991607666},{"id":"https://openalex.org/C162704800","wikidata":"https://www.wikidata.org/wiki/Q744153","display_name":"Implicit cost","level":3,"score":0.3781000077724457},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3418999910354614},{"id":"https://openalex.org/C2777131613","wikidata":"https://www.wikidata.org/wiki/Q18394147","display_name":"Retard","level":2,"score":0.30660000443458557},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.29589998722076416},{"id":"https://openalex.org/C129844170","wikidata":"https://www.wikidata.org/wiki/Q41299","display_name":"Quadratic equation","level":2,"score":0.29269999265670776},{"id":"https://openalex.org/C2778174566","wikidata":"https://www.wikidata.org/wiki/Q2874240","display_name":"Loss aversion","level":2,"score":0.2854999899864197},{"id":"https://openalex.org/C42866809","wikidata":"https://www.wikidata.org/wiki/Q466764","display_name":"Fixed cost","level":2,"score":0.2849000096321106},{"id":"https://openalex.org/C189216375","wikidata":"https://www.wikidata.org/wiki/Q1127759","display_name":"Cognitive bias","level":3,"score":0.2766000032424927},{"id":"https://openalex.org/C18619997","wikidata":"https://www.wikidata.org/wiki/Q47627","display_name":"Experimental economics","level":2,"score":0.2750000059604645},{"id":"https://openalex.org/C151201525","wikidata":"https://www.wikidata.org/wiki/Q177239","display_name":"Limit (mathematics)","level":2,"score":0.2745000123977661},{"id":"https://openalex.org/C189560676","wikidata":"https://www.wikidata.org/wiki/Q1187906","display_name":"Profit margin","level":2,"score":0.27129998803138733},{"id":"https://openalex.org/C182299520","wikidata":"https://www.wikidata.org/wiki/Q1289588","display_name":"Total cost","level":2,"score":0.2621000111103058},{"id":"https://openalex.org/C175291020","wikidata":"https://www.wikidata.org/wiki/Q1156822","display_name":"Offset (computer science)","level":2,"score":0.2567000091075897},{"id":"https://openalex.org/C80478641","wikidata":"https://www.wikidata.org/wiki/Q195771","display_name":"Sequential analysis","level":2,"score":0.2563000023365021},{"id":"https://openalex.org/C127454912","wikidata":"https://www.wikidata.org/wiki/Q942582","display_name":"Cost\u2013benefit analysis","level":2,"score":0.25209999084472656},{"id":"https://openalex.org/C2776035688","wikidata":"https://www.wikidata.org/wiki/Q1606558","display_name":"Affect (linguistics)","level":2,"score":0.2506999969482422}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1609/aaai.v40i20.38756","is_oa":true,"landing_page_url":"https://doi.org/10.1609/aaai.v40i20.38756","pdf_url":"https://ojs.aaai.org/index.php/AAAI/article/download/38756/42718","source":{"id":"https://openalex.org/S4210191458","display_name":"Proceedings of the AAAI Conference on Artificial Intelligence","issn_l":"2159-5399","issn":["2159-5399","2374-3468"],"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/P4310320058","host_organization_name":"Association for the Advancement of Artificial Intelligence","host_organization_lineage":["https://openalex.org/P4310320058"],"host_organization_lineage_names":["Association for the Advancement of Artificial Intelligence"],"type":"conference"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the AAAI Conference on Artificial Intelligence","raw_type":"journal-article"},{"id":"pmh:oai:irdb.nii.ac.jp:00926:0007245640","is_oa":true,"landing_page_url":"https://repository.dl.itc.u-tokyo.ac.jp/records/2014288","pdf_url":null,"source":{"id":"https://openalex.org/S7407056385","display_name":"Institutional Repositories DataBase (IRDB)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I184597095","host_organization_name":"National Institute of Informatics","host_organization_lineage":["https://openalex.org/I184597095"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"other"}],"best_oa_location":{"id":"doi:10.1609/aaai.v40i20.38756","is_oa":true,"landing_page_url":"https://doi.org/10.1609/aaai.v40i20.38756","pdf_url":"https://ojs.aaai.org/index.php/AAAI/article/download/38756/42718","source":{"id":"https://openalex.org/S4210191458","display_name":"Proceedings of the AAAI Conference on Artificial Intelligence","issn_l":"2159-5399","issn":["2159-5399","2374-3468"],"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/P4310320058","host_organization_name":"Association for the Advancement of Artificial Intelligence","host_organization_lineage":["https://openalex.org/P4310320058"],"host_organization_lineage_names":["Association for the Advancement of Artificial Intelligence"],"type":"conference"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Proceedings of the AAAI Conference on Artificial Intelligence","raw_type":"journal-article"},"sustainable_development_goals":[{"score":0.7713145613670349,"display_name":"Peace, Justice and strong institutions","id":"https://metadata.un.org/sdg/16"}],"awards":[{"id":"https://openalex.org/G8058665615","display_name":null,"funder_award_id":"JPMJER2301","funder_id":"https://openalex.org/F4320334764","funder_display_name":"Japan Society for the Promotion of Science"},{"id":"https://openalex.org/G8777598954","display_name":null,"funder_award_id":"JP20K19739","funder_id":"https://openalex.org/F4320334764","funder_display_name":"Japan Society for the Promotion of Science"},{"id":"https://openalex.org/G925228835","display_name":null,"funder_award_id":"JPMJER2301","funder_id":"https://openalex.org/F4320338112","funder_display_name":"Exploratory Research for Advanced Technology"}],"funders":[{"id":"https://openalex.org/F4320334764","display_name":"Japan Society for the Promotion of Science","ror":"https://ror.org/00hhkn466"},{"id":"https://openalex.org/F4320338111","display_name":"Precursory Research for Embryonic Science and Technology","ror":null},{"id":"https://openalex.org/F4320338112","display_name":"Exploratory Research for Advanced Technology","ror":null}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W7138244801.pdf","grobid_xml":"https://content.openalex.org/works/W7138244801.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":[],"abstract_inverted_index":{"We":[0,37],"study":[1],"a":[2,15,18,39,109,132],"sequential":[3,150],"selling":[4,84],"problem":[5],"in":[6,92,112],"which":[7],"an":[8,98],"agent":[9],"receives":[10],"daily":[11],"offers":[12],"to":[13,26,33,97,115,122,131,156],"sell":[14],"good,":[16],"incurs":[17],"holding":[19],"cost":[20,28,47,147],"each":[21,78],"day,":[22],"and":[23,49,67,86,125,152],"is":[24],"subject":[25],"sunk":[27,46,146],"bias---allowing":[29],"past,":[30],"irrecoverable":[31],"costs":[32],"influence":[34],"present":[35],"decisions.":[36],"introduce":[38],"formal":[40],"model":[41],"parameterizing":[42],"the":[43,71,82,89,136],"degree":[44],"of":[45,73,135,145],"bias":[48,65,148],"distinguish":[50],"between":[51],"three":[52],"behavioral":[53],"types:":[54],"optimistic":[55,105],"(who":[56,61,69],"ignore":[57],"future":[58],"bias),":[59],"naive":[60,118],"assume":[62],"their":[63,74,129],"current":[64],"persists),":[66],"sophisticated":[68,126],"anticipate":[70],"evolution":[72],"own":[75],"bias).":[76],"For":[77],"type,":[79],"we":[80],"characterize":[81],"optimal":[83],"strategy":[85],"precisely":[87],"quantify":[88],"worst-case":[90],"gap":[91],"expected":[93],"objective":[94],"profit":[95,113],"compared":[96],"unbiased":[99,123],"agent.":[100],"Our":[101],"results":[102],"show":[103],"that":[104],"agents":[106,119,127],"can":[107],"suffer":[108],"quadratic":[110],"loss":[111],"due":[114],"excessive":[116],"waiting,":[117],"perform":[120],"identically":[121],"agents,":[124],"limit":[128],"losses":[130],"linear":[133],"function":[134],"time":[137],"horizon.":[138],"These":[139],"findings":[140],"clarify":[141],"how":[142],"different":[143],"anticipations":[144],"affect":[149],"decision-making":[151],"suggest":[153],"targeted":[154],"interventions":[155],"mitigate":[157],"inefficiency.":[158]},"counts_by_year":[],"updated_date":"2026-05-21T06:26:12.895304","created_date":"2026-03-18T00:00:00"}
