4 ms·
When looking at the question of whether to continue in your masters, it is a fallacy to consider the (non-refundable) tuition you've paid. This is a "sunk cost"
by bbulkow 15y ago
When looking at the question of whether to continue in your masters, it is a fallacy to consider the (non-refundable) tuition you've paid. This is a "sunk cost" ( http://en.wikipedia.org/wiki/Sunk_costs http://en.wikipedia.org/wiki/Sunk_costs ). The question you should ask yourself is simply whether you can pick up the knowledge you want cheaper and better elsewhere. You've not mentioned your other possible options at this point (do you have friends with these skills?), nor the amount of time remaining for the masters degree.
- vorbby 15y agoThanks a lot for this link. When I was trying to quit smoking, I would always have a full pack and would rationalize "Well, it would be a waste of money to throw this pack out now." I knew there must be a name for this irrational thinking, and that article taught me a lot. Thanks again.