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[17] [18] This is the sunk cost fallacy, ... Individuals caught up in psychologically manipulative scams will continue investing time, ...
This could be because of the sunk-cost fallacy. It’s a term borrowed from the finance world, but you don’t have to know a ton about economics to get it. “The sunk-cost fallacy refers to the ...
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Of these, sunk costs, time investment, decision maker experience and expertise, self-efficacy and confidence, personal responsibility for the initial decision, ego threat, and proximity to project completion have been found to have positive relationships with escalation of commitment, while anticipated regret and positive information framing ...
The ninth chapter explains the upside of quitting and three reasons why people have so much difficulty quitting. Firstly, quitting is frowned upon in society. Secondly, it is often difficult to justify abandoning a project after putting so much time, money, and effort used in an effort to achieve success, also known as the "sunk cost fallacy."
The sunk-cost problem helps explain why it was so hard to end that war. It is worth considering this problem as we reflect on current wars. The sunk-cost fallacy applies in our thinking about the ...
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Sunk cost From a page move : This is a redirect from a page that has been moved (renamed). This page was kept as a redirect to avoid breaking links, both internal and external, that may have been made to the old page name.