A new study reveals how Doubling-Back Aversion leads people to reject smarter choices just to avoid undoing past progress.

Similarly, the sunk cost fallacy convinces us to continue investing in something simply because we've already committed time ...

Loss aversion was a cognitive bias identified by influential psychologists Daniel Kahneman and Amos Tversky in the 1970s. It often goes hand-in-hand with the endowment effect, where individuals place ...

There is nothing so useless as doing efficiently that which should not be done at all.” —Peter Drucker, “The Effective ...

Falling prey to the sunk cost fallacy will cost leadership more than just time, money and energy, Dr Simon Breakspear says. Aptly termed the ‘sunk cost fallacy’, this sneaky cognitive bias drives many ...

Breaking Free from the Sunk Cost Trap Being aware of the sunk cost fallacy is the first step to avoid this bias, but it is not enough—you need concrete strategies. Define success and failure ...

To find your answer, she recommends you start by ‘inventorying’ what’s most important in your life (with or without a partner). According to KC, values can look different for each person. for her, ...

A sunk cost fallacy then occurs if you lean into the sunk cost by putting more resources toward it, even though that doesn't recoup what's already lost. So if you keep watching that TV show and ...

A major way that the sunk cost fallacy hurts finances is by causing investors to stay committed to a misguided investment for too long or even allocate more to chase losses.

The Stahl Organization has put at least $370 million into 277 Park Ave in the past few years, demonstrating two phenomena of economics.

Coined in 1980 by economist Richard Thaler, the sunk-cost fallacy describes a cognitive bias that leads people to double down on failed strategies in which they have invested time, resources and ...

The sunk cost fallacy is closely linked with the behavioral finance concept of "commitment bias," in which an investor will continue to pursue a course of action based on past decisions despite ...