Tag: sunkcostfallacy

The Sunk Cost Fallacy

“Individuals commit the Sunk Cost Fallacy when they continue a behaviour or endevaour as a result of previoulsy invested resources.” (Arkes & Blumer, 1985) If we’re honest, I suspect that we would all like to think that given a situation and presented with a choice, we would make a rational decision, based on the future…