Discover what sunk costs are and how the sunk cost fallacy can impact decision-making in personal and business scenarios.

Ever hear about the sunk cost fallacy? Does that ring a bell? Well, if it doesn't, it may be the reason behind the "I know what I have" statement in used car adverts, as well as the motive behind why ...

Have you ever encountered a subpar hotel breakfast while on holiday? You don’t really like the food choices on offer, but since you already paid for the meal as part of your booking, you force ...

Megan McArdle spent years in a doomed relationship. The reason, she says: She fell victim to a common economic fallacy. Our Planet Money team has... How Sunk Cost Fallacy Applies To Love RENEE ...

Human beings do not respond rationally to “sunk costs.” We persist in doing what we’ve always done because, well, that’s what we’ve always done. We confuse loyalty with stubbornness. We are reluctant ...

As some Republicans express buyer's remorse about Donald Trump's selection of J.D. Vance as the “worst choice” for vice president and Joe Biden ditches his stubbornness about staying in the 2024 ...

In the 1960s and '70s, the British and French governments made a legendary misstep: betting on the Concorde. A joint manufacturing effort between Sud Aviation and British Aircraft, their supersonic ...

Five years ago, a friend of mine spent thousands of dollars to buy a few baseball cards of a young player he was sure would be a star. He financed the purchases with credit cards. Chances are you’ve ...