Hi Vault-Tec101, I think the concept you are looking for is loss aversion. Take into consideration the concept of auctioning off a 20$ bill, but the first place winner pays and gets the bill, the 2nd place winner also pays but gets nothing. People start bidding hoping to buy a $20 for 1$ , a real bargain, but as time goes on the need to get a bargain is replaced by the aversion of loss. Let me explain.
So we start bidding at 1$, if they win they gain 19$, but as time goes one they end up passing the value fo the bill being sold. The reason is obvious. Let's say the bid goes up to around 22$. At this point obviously you are losing money even if you do win. However, if you win, you lose only 2$, if you are in 2nd place you lose $22. Obviously, you would rather lose only 2$ so you bid again hoping the other guy drops out. Now let's say the top bid is $40, the winnner loses $20 (40$ bid - the value of the $20 bill = a $20 loss), the second place person loses $39, the cost of the bid, with nothing to show for it.
This is the concept of loss aversion at work.
Same goes for the Vietnam war, they spent so much money, men and resources to win the war. It would be shameful to spend all that money and lose all of those men's lvies and come home with nothing to show for it. So they keep dumping more men and money into it in a futile attempt to turn things around, wasting even more money and lives.
This concept can go for computer game as you said, you spent your money on it, you aren't getting it back. So you might as well play the game, because if it was a bad game you just wasted your money. Loss aversion at work again, you are trying to avoid losing your money on a worthless product. So you keep on using the product, in this case playing the game, in a desperate attempt to convince yourself that the money was well spent. But it wasn't, you were ripped off. So as time goes by you slowly , but surely, come to the sad conclusion that you just threw away your money.
This is why you played the game for so long, not because it was good. But because it HAD to be good or else your money was wasted. You don't want to accept the fact you wasted your money, so you spend forever trying to convince yourself it was good. Loss aversion at work.
Apparently PhroXenGold and others do not understand the concept, but I hope it is now more apparent to them. I however do, I went through the same thing with this game, and Sims 4.