Sunk cost fallacy

It describes our tendency to commit to something just because we've already invested resources in it—even if it would be better to give up on it.

How to control it: Always reevaluate your processes in light of new evidence.

We want to finish what we've started because of previously invested resources, even if it is better to quit and use our limited resources elsewhere for better returns.

What you can do about it:

• Every decision has two costs...

The more choices we have, the less likely we are to be content with our decision.

Even if our ultimate decision is clearly correct, when faced with many choices, we are less likely to be happy with what we choose. Because a wealth of choices makes finding contentment that much harder...