3 ms·
It's also worth noting that sunk cost is often strongly correlated with remaining cost. If you've spent 4 years in a 5 year PhD program and start questioning yo
by pontus 5y ago
It's also worth noting that sunk cost is often strongly correlated with remaining cost. If you've spent 4 years in a 5 year PhD program and start questioning your reasons for being there, you could frame it in terms of the sunk cost fallacy: "just because I've been here for four years, doesn't mean that I should continue on". On the other hand, there's a rational argument for staying: "at this point I only have one more year to go and if I leave now I leave empty handed but if I just stay one more year, I'll get a PhD".
- samuel 5y agoIf I understand correctly the sunk cost fallacy your example lacks an objectively better alternative, like an opportunity related to one of your hobbies, unrelated to your studies, which could land you in a great job in some years. As you stated it, there's no doubt, staying in the PhD is the only rational choice.