About this episode

The episode revisits the sunk cost fallacy and discusses the challenges of letting go of past investments.

Back by popular demand! We are revisiting one of our most thought-provoking conversations on the sunk cost fallacy and why our past investments can make it so hard to let go. The sunk cost fallacy is when one has already invested into a project, begins to examine the overall cost estimate involved and with the project, and thus commits to the project even harder because they are personally invested in the project. Yet, some economists say NO, you must only examine the future costs and rewards! What do you think? Join the conversation now!!

Topics covered

• sunk cost fallacy
• economics
• decision making
• investments
• future costs

Keywords

• sunk cost fallacy
• economics
• decision making
• investments
• future costs
• revisiting conversations

Mentioned in this episode

Organizations: Gwartney Institute

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