The sunk cost fallacy occurs when people continue investing in a decision based on past costs rather than future benefits, leading to irrational choices. Definition and Concept A sunk cost is a cost that has already been incurred and cannot be recovered, such as money spent on a project, time invested, or resources used. The sunk cost fallacy happens when individuals or organizations let these irretrievable costs influence their current decisions, even when continuing is no longer the most...

1º Posting: 07/11/2019

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