Research

If you’ve ever taken an economics course, you’d recall that basic economics is founded on the assumption that an individual is a fundamentally rational creature. This infallible being, homo economicus, when in possession of complete and accurate information, always chooses the option that maximizes their well-being. Of course, we all know that this is a flagrantly inaccurate assumption – people constantly act against their objective rational self-interest. In the 1970s, Israeli psychologists Amos Tversky and Daniel Kahneman studied and catalogued some of these irrationalties. Through meticulous and often creative experimentation, they found patterns in the way that we are sometimes at odds with rationality. Tversky and Kahneman’s research spawned a new field called behavioral economics to study these predictable irrationalities. Thus far, behavioral economists have identified over 100 of these persistent mental errors – called cognitive biases – that distort our decision-making. ...

The investment model1 offers an elegant explanation for why we sometimes find it very difficult to leave a relationship, even when relationship satisfaction is persistently low. This model posits we are likely to remain in a relationship to the extent that we feel dependent on that relationship. This dependence, in turn, leads to greater commitment to remaining in the relationship over time. While we do tend to feel more dependent in satisfying relationships, even in an unsatisfying relationship dependence can be present when: ...