Abstract
Although the phenomenon of sunk costs is common in tourism situations, tourism research has largely ignored its effect on tourists. Drawing on prospect theory, cognitive dissonance theory, and signal theory, this study proposed that monetary sunk cost and temporal sunk cost both have significant impact on potential tourists' visit intention. Four scenario-based experiments were performed to test hypothesized relationships. Findings revealed that monetary sunk cost has a negative effect on visit intention, while temporal sunk cost has a positive effect. Good destination reputation attenuates the effects, and destination trust mediates the relationship between sunk cost and visit intention. These studies extend existing theoretical applications by identifying the conditions under which sunk cost can influence tourists' visit intention, and provides relevant practical suggestions for tourism product suppliers and local government departments.
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