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Example: We don’t quit reading a half-finished book even if the content is not helping us in any way.
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As a well-known cliché goes: The definition of insanity is doing the same thing over and over again, and expecting a different result.
Be it an activity, a job or a relationship, we need to quit if things aren’t working out. We are too afraid to quit, and in today’s uncertain, com...
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...
Love yoga in the morning and a godd book in the evening.
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The sunk cost fallacy is one of the primary reasons you are so afraid to quit anything. It occurs when you tell yourself that you can’t quit because of all the time or money you have already spent. The idea of all of that going to waste is what is keeping you at bay, paralyzed at th...
These explanations are all irrational for preferring the status quo:
If we don’t see enough progress by the end of the day, it feels (to us or our superiors) like we haven’t done enough.
Apart from the completion bias, where our brain seems hardwired to wanting to finish the given tasks, we are also having another cognitive bias called the plan...
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