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What is the Sunk Cost Fallacy?
Why do I keep sunk costing my money?
Is the Sunk Cost Fallacy a cognitive bias?
What are the signs of a Sunk Cost Fallacy?
6 days ago · “Sunk cost” refers to past investments of time, energy, and money—all resources that cannot be recovered in the future. Sunk cost fallacy occurs when a person decides to continue actions because of past costs, even when the present and future costs exceed the potential benefits.
3 days ago · The sunk cost fallacy, or sunk cost effect, occurs when you choose to do something just because you have invested our resources in it in the past. Instead of focusing on the present or...
3 days ago · Escalation of commitment, irrational escalation, or sunk cost fallacy, where people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the decision was probably wrong.
3 days ago · The sunk cost fallacy, or sunk cost effect, occurs when you choose to do something just because you have invested our resources in it in the past.
4 days ago · The sunk cost fallacy describes the tendency to make decisions based on the resources (time, money, effort) already invested into something, rather than on the potential future benefits. Here are some examples of how this fallacy plays out in everyday life: Staying in an unhappy relationship.
May 16, 2024 · Fact checked by: Kirsty Kearney Greig. Product management glossary / Sunk Cost. What is a sunk cost? A sunk cost refers to resources that have already been spent and cannot be recovered. In Product Management, this could involve time and money allocated to research, development, or any other phase of creating a product or feature.
May 9, 2024 · Sunk costs are past expenses that are no longer relevant to future decisions. These costs cannot be refunded or recovered, and they should not influence your ongoing strategic choices.
