Gains and losses


in Economics, Psychology

Another cognitive flaw worth knowing about: The Sunk Cost Fallacy.

{ 1 comment… read it below or add one }

BuddyRich March 30, 2011 at 11:31 pm

I am fascinated by behavioral economics. This particular fallacy brings two colloquialisms to mind: “throwing good money after bad” and “in for a penny in for a pound”. One seems to be a warning against the fallacy and the other promoting it.

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