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Let's discuss the Sunk Cost Fallacy
Our life decisions are based on an array of conditions. We make micro-choices every
Written by: Keshni Gami
Updated: April 6, 2024
Written by: Keshni Gami | Updated: April 6, 2024
Quick Read
- The Sunk Cost Fallacy is continuing something due to prior investment (time, money, effort), even if it's no longer beneficial.
- This fallacy occurs because humans dislike wastefulness and tend to weigh potential losses more heavily than potential gains.
- Mental health conditions can be linked to the Sunk Cost Fallacy, potentially exacerbating symptoms.
- Identifying the fallacy involves self-reflection and aligning current commitments with future goals.
- Managing the fallacy requires acknowledging emotional investment, seeking external advice, and being honest about when to let go.
Contents
- 1. What is The Sunk Cost Fallacy
- 2. Why does the fallacy occur?
- 3. Does mental health affect the Fallacy?
- 4. Identifying & Managing the Sunk Cost Fallacy
