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What Is The Sunk Cost Fallacy? The Sunk Cost Fallacy In A Nutshell - FourWeekMBA

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What Is The Sunk Cost Fallacy? The Sunk Cost Fallacy In A Nutshell - FourWeekMBA

The sunk cost fallacy describes a tendency to follow through on endeavors where time, money, or effort has already been invested. The sunk cost fallacy was first introduced by behavioral scientist Richard Thaler, who suggested in 1980 that "paying for the right to use a good or service will increase the rate at which the good will be utilised ...

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