People continue to invest in a decision or project based on the resources already committed, even when it's clear that further investment won't lead to better outcomes. For instance, you might keep pouring money into a failing business because you've already invested a significant amount.
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Being an ambivert person, I am too much fond of reading, and always eager to learn.
These cognitive biases and mind traps influence decision-making, perception, and behavior in various aspects of our lives. Recognizing them can help us make more rational and informed choices.
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Similar ideas to 11. Sunk Cost Fallacy:
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:
These explanations are all irrational for preferring the status quo:
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