The Sunk Cost Fallacy – Let it go! –

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The Ultimate Truth about Housing affordability comparing wcf bancorp (NASDAQ:WCFB) and Salisbury Bancorp (NASDAQ:SAL) The Sunk Cost Fallacy – Let it go! – Option not Obligation: How to Beat the Sunk Cost Fallacy. – With the costs being equal, and the option B outcome being significantly better, the obvious logical.

The sunk-cost fallacy The sunk-cost fallacy describes our tendency to throw good money after bad. Just because you’ve already spent money on something doesn’t mean you should continue spending money on it. Sometimes the opposite is true. Psychologically, the more you spend on something, the less you’re willing to let it go.

The sunk-cost fallacy is a trap most people fall into. It’s hard to abandon a project once you’ve invested so much of your time and money into the cause. Unfortunately, the sunk-cost fallacy prevents a very real danger to our lives: by falling for the trap, we risk losing much more than our initial investment in an anxious attempt to recoup.

The sunk cost fallacy occurs whenever we let past financial decisions or costs illogically impact our present ones. The sunk cost fallacy is what keeps you sitting in a terrible play with your wife, even when you’d both rather leave, because you dropped $150 on the tickets already and want to have a fancy date night.

“Sometimes it’s hard to let go of a bad decision,” Nye says in the video. “In behavioral economics, this principle is commonly known as the sunk-cost fallacy. Let me give you an example: Let’s say you.

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But when we come to the realization that it cannot – and yet we refuse to take action because of our investment, we’ve again been taken captive by the sunk cost fallacy. Example 6 – The Stock Market Misjudgment. Keeping in mind that the original context of the sunk cost fallacy was economic, we’ll go with one final example.

The Sunk Cost Fallacy- A Major Mind Mistake.. (financially and otherwise) thought mistakes is the Sunk Cost fallacy.. time, emotional can be so strong that even when you do see it from a rational point you still can’t let it go! It’s the letting go that’s sometimes the hardest thing.

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