Sunk cost fallacy - Deepstash

Sunk cost fallacy

It happens when someone continues in a course of action, even if evidence shows that it's a mistake.

Common phrase: "We've always done it this way, so we'll keep doing it this way." "I've already invested so much..."

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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.

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