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It's not the time and money they invested, which is a sunk cost, but the prestige they keep on deriving. Paying people to stop out of college is an attack on t
by Eliezer 16y ago
It's not the time and money they invested, which is a sunk cost, but the prestige they keep on deriving. Paying people to stop out of college is an attack on the prestige you think you're getting from your college degree.
- joshkaufman 16y agoThere's also an endowment effect involved - the more time/energy/money it costs to obtain a credential, the more people resent losing the perceived benefits.