Sunk costs can affect high-stakes decisions. While the examples above may seem relatively trivial, they show how common the sunk cost fallacy is. And it can affect decisions with much higher stakes in ...

If you find it difficult to overcome the sunk cost fallacy, it may help to delegate such decisions to others. This may include the decision of whether to go to a buffet or subscribe to Netflix ...

The sunk cost fallacy turns past investments into psychological anchors that drag down future decisions. Remember: money, time, and effort you've already spent are gone, regardless of what you do ...

The sunk cost fallacy can also emerge when it comes to hanging onto purchases for longer than they best serve you. Let's say you took out a car loan for $40,000, ...

Sunk cost fallacy vs. perseverance/tenacity So do we give up on our course, career, marriage, stocks, book, movie, project, etc. right away? Don’t we always hear that success stories are made up ...

The sunk cost fallacy is the mindset of continuing with a decision just because of past investments, even when logic would say otherwise. It is a flawed process of thinking.

Bob is committing the sunk cost fallacy by letting the original price influence his decision-making – only the house’s current and projected price should matter. Bob might be acting ...

So, sunk cost fallacy generally means whereby an individual is hesitant to capitulate a policy because he/she has subsidized on it heavily, even after being fully aware that it’s abandonment ...

The sunk cost fallacy often motivates people to do things based on how much time or money they've invested — even they don't want to them. Forget about how much time or money you've invested.

Suppose that, seeking a fun evening out, you pay $175 for a ticket to a new Broadway musical. Seated in the balcony, you quickly realize that the acting is bad, the sets are ugly and no one, you ...