The Sunk Cost Fallacy

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” The sunk cost fallacy is most dangerous when we have invested a lot of time, money, energy or love in something. This investment becomes a reason to carry on, even if we are dealing with a lost cause.

The more we invest, the greater the sunk costs are, and the greater the urge to continue becomes.

If we decide to cancel a project halfway, we create a contradiction: We admit that we once thought differently. Carrying on with a meaningless project delays the painful realisation and keeps up appearances.

No matter how much you have already invested, only your assessment of the future costs and benefits counts. “

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