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 ...

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 ...

Sunk cost fallacy involves continuing investments due to past costs, not future benefits. Recognize irrational holding by setting pre-determined exit points for investments. Regularly review ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

Joe Biden’s self-inflicted electoral crisis is a classic case study in the “sunk cost fallacy.” As Vice President Kamala Harris and party leaders pour resources into the president’s flailing campaign, ...

The sunk cost fallacy addresses the tendency of people to continue on a suboptimal path because they have committed a lot of time or resources to it already. Investors, for example, may double down on ...