3 ms·
Those effects are compatible with a proper understanding of the sunk cost fallacy. The 2nd order effects are future benefits that can make the project worth com
by daveFNbuck 8y ago
Those effects are compatible with a proper understanding of the sunk cost fallacy. The 2nd order effects are future benefits that can make the project worth completing. The point is that it's the magnitude of the benefits you expect to get that matters and not the amount of resources you've already spent.
- dwaltrip 8y agoTotally. But I think 2nd order effects are often underappreciated, and the difficulty of evaluating them does take some of the "oomph" out of the sunk cost fallacy.