The Sunk Cost Fallacy

Although i am over-laden with ism’s.and issues(pass the tissues)..
This particular -ism, i do not fall prey to…but it resonated with me because i recognize it as a common affliction of many around me( who shall remain anonymous) -

If you’ve ever overeaten at an all-you-can-eat buffet just because you wanted to get what you paid for or nearly died of boredom at a terrible movie because you were compelled to “get your money’s” worth, then you’re familiar with The Sunk Cost Fallacy.

Basically,

. the sunk cost fallacy occurs when you make a decision based on the time and resources you’ve already committed and not on what would be the best way to spend your remaining time and energy. The sunk cost fallacy is usually applied to economics, but it can also pop up when you’re ……

reposted from:brandspankingnew
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