Quote by SHANE PARRISH - Deepstash
SHANE PARRISH

Avoiding sunk cost fallacy helps in making rational decisions based on current realities.

SHANE PARRISH

39

142 reads

CURATED FROM

IDEAS CURATED BY

talhamumtaz

Today's readers, tomorrow's leaders. I explain handpicked books designed to transform you into leaders, C-level executives, and business moguls.

Discover how to sharpen your mind and make better decisions with "Clear Thinking" by Shane Parrish, leveraging mental models and overcoming cognitive biases.

Similar ideas

6 of the largest decision-making blunders

6 of the largest decision-making blunders

  1. Sunk-cost fallacy. Present yourself with the new options at hand -- without considering the sunk cost.

  2. Narrow framing. When we're in situations that will repeat themselves over time, we should take a step back and play a game of averages...

The Sunk Cost Fallacy In Business

When running a company, many entrepreneurs fail to quit, change direction or pivot their business model, unable to admit that what they were doing isn’t working, or that they were plain wrong in their decisions.

The Sunk Cost Fallacy is the primary reason for this gross error in ju...

The most common biases

  • You’re focused on the time and energy you’ve already invested, or the sunk cost fallacy.
  • Your eyes are trained on positive cues -being overly optimistic and loss averse. Always trying harder and for longer.
  • When we realize we’re likely to fail at a job or other ...

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates