#psychology #lizard-brain #fallacy #reasoning
idea
Sunk cost are expenses that are effectively lost.
We tend to overestimate the potential return of an investment when we already invested a lot on it, even when the past investment was effectively sunk cost ; despite new data that would otherwise reduce our interest in investing.
For example, we have higher chances of waiting for a bus if we already waited for it for long, even if we learn that there's an accident on the road, because it might come soon and we already waiting so long
links
Sunk cost fallacy can be a byproduct of Consistency