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The key to the theater tickets example is that you should treat tickets you've bought the same as if you got them for free. Replay the scenario but instead of b
by daveFNbuck 8y ago
The key to the theater tickets example is that you should treat tickets you've bought the same as if you got them for free. Replay the scenario but instead of buying the tickets everyone at my office got free movie vouchers. If I'd give you the free voucher but not the ticket I bought, that's indicative of the sunk cost fallacy.
Better examples usually make the alternative better than the thing you already paid for. Giving you my tickets isn't much of a benefit to me, but icy roads can make a difference. If conditions are too dangerous to drive to a free movie showing, I shouldn't drive to use the tickets I already paid for either.