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That example is one I have seen in nearly every article I have read on the sunk cost fallacy, and every time a thought occurs: "can anyone come up with a better
by readingnews 5y ago
That example is one I have seen in nearly every article I have read on the sunk cost fallacy, and every time a thought occurs: "can anyone come up with a better one?" If I am truly sick on the day of the concert, I call my friends and give them the ticket. It seems trivial.
- orwin 5y agoThe best example i know is related, it that you feel sick in the middle of a meal at a one-star restaurant (let's say on the third dish).
- HarHarVeryFunny 5y agoThat's a decent example, but I don't see why one-star vs five-star would make any difference. It's also depends if continuing to sink time/money into the meal (by having desert, say) would make you feel more sick or not. Unless you feel like vomiting, maybe you want to stay for that tasty desert anyways! You'd only be committing the "sunken cost" mistake if you continued with the meal without having some good forwards-looking (social, perhaps) reason to do so.