Quotes About Sunk-cost

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects. I have often observed young scientists struggling to salvage a doomed project when they would be better advised to drop it and start a new one. Fortunately, research suggests that at least in some contexts the fallacy can be overcome. The

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects. I

Our track to nowhere could be refusing to quit our college major even though it's making us unhappy, because we already took so many classes and put so much time into it.

one can imagine a leader who has a changing willingness to suffer a cost over time, increasing as the conflict proceeds and his resolve toughens. His motto would be: "We fight on so that our boys shall not have died in vain." This mindset, known as loss aversion, the sunk-cost fallacy, and throwing good money after bad, is patently irrational, but it is surprisingly pervasive in human decision-making.

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects.