Tag Archive
Beating a Sunk Horse
Here are what I believe are fairly definitive answers to the sunk cost quiz questions. But of course feel free to take issue in the comments. SCENE: You have a non-refundable flight but now the opportunity to road trip with some friends to your destination has come up. Which of the following are rational... »
Hyper-Correcting for the Sunk-Cost Fallacy
Here's a classic litmus test for the sunk cost fallacy: You bought a ticket for a show. The night arrives and you just don't feel like going. Do you go anyway, so as not to have wasted the money on the ticket? Probably you shouldn't. Your current decisions should not be influenced by money that is... »
