Irrational Decision

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August 31, 2024 4 min read Definitions
Sunk Cost Fallacy: The Result of Misguided Investments
Economics Behavioral Economics Decision Making Sunk Cost Investment Decision Economic Behavior Cognitive Bias Irrational Decision
The Sunk Cost Fallacy is the phenomenon whereby decision-makers continue investing in a project due to the amount already invested, despite new evidence suggesting that the cost will not be recovered.
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