The Sunk-Cost Bias

The sunk cost fallacy keeps us invested in losing propositions:

• Past investments are already gone and cannot be recovered
• Rational decisions consider only future costs and benefits
• Emotional attachment ...

When starting new projects, we tend to have high expectations of them doing well. We put a big amount of effort into them and even if see they don't go that well, we still choose not to opt-out. Instead, we hang on them longer, because we feel regret of leaving a project before it material...

Too many people hang on to relationships that they well know are going nowhere.

Ending a relationship puts us in the situation to admit we have made a mistake and it makes us experience regret. So to avoid regret, we convince ourselves that as we have come so far with the relationshi...