The Sunk Cost Fallacy (Explained in 100 Seconds)

[@EvanArgenal]

This has been the most epic quick explanation of The Sunk Cost Fallacy 🥴 Let me know what else you would like me to explain in 100 seconds! Come hang out and chat on Discord fellas! 👉 discord.gg/Nzg3jWNXVB

[@New-tu3mn]

Yes. Another way of defining sunk cost is: Any cost which cannot be recouped by the decision you are faced with. A sunk cost is a lost cost. It follows that it’s faulty to include consideration of sunk costs to make a decision. Decisions are inherently forward looking, so un-recoupable expenditures (sunk costs) have no relevance. People often mistake a sunk cost, as an investment that they can recoup. Emotions are typically what most inhibit rational decision making.

[@FrenchieFlimFlam]

This is very accurate and idiots don't understand. "I'm about to make it big trust me." Liked.

[@bobowon5450]

this is how my family is with their house. I want to sell it, use the money to build a new, smaller, but properly built house. rest of my family is insistent on finishing repairs even though it'll take years and years and years and may thousands of dollars

[@Mylifeasgod]

Smart dude

[@joels7605]

I'm in the middle of this with a large project right now.