Definitions from Wiktionary (sunk costs fallacy)
▸ noun: The phenomenon where somebody justifies an increased investment of money or other resources based on the cumulative prior investment (the sunk costs), despite new evidence suggesting that the cost of continuing now outweighs the expected benefit.
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▸ noun: The phenomenon where somebody justifies an increased investment of money or other resources based on the cumulative prior investment (the sunk costs), despite new evidence suggesting that the cost of continuing now outweighs the expected benefit.
Similar:
quasi-rent,
aftercost,
investment dressing,
side bet,
greater fool theory,
unexpired cost,
latte factor,
Siegel's paradox,
accumulation,
opportunity cost,
more...
Opposite:
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▸ Wikipedia articles (New!)
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