sunk-cost fallacy

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Why is it a fallacy when it makes so much sense intuitively?

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Anonymous 0 Comments

A lot of people say things like “Well, I don’t actually want this degree, but I’m only six months from finishing, so I might as well.”

Compare that with this scenario; the store is two miles away. You start walking there and, a mile later, remember it’s closed today. Do you walk the rest of the way anyway? Of course not. Just because you have put resources into achieving a goal does not make that goal worth additional resources; the goal may not even be achievable. And yet people often think it does; it is a fallacy.

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