4 ms·
avoiding sunk cost is the idea of not attaching value to the money already spent. if you expect to get $10 for spending $2 more dollars, that would not be a su
by floydnoel 2y ago
avoiding sunk cost is the idea of not attaching value to the money already spent.
if you expect to get $10 for spending $2 more dollars, that would not be a sunk cost fallacy.
if you expect to get $10 and you need to spend $11 more dollars, that could be a sunk cost fallacy.
where it gets difficult is if you previously spent $10,000 and you need to spend $10 more to get $11. at that point it can feel like a good bargain compared to the total losses. that's the sunk cost fallacy.