As some Republicans express buyer's remorse about Donald Trump's selection of J.D. Vance as the “worst choice” for vice president and Joe Biden ditches his stubbornness about staying in the 2024 ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...

Sunk cost fallacy involves continuing investments due to past costs, not future benefits. Recognize irrational holding by setting pre-determined exit points for investments. Regularly review ...

Joe Biden’s self-inflicted electoral crisis is a classic case study in the “sunk cost fallacy.” As Vice President Kamala Harris and party leaders pour resources into the president’s flailing campaign, ...

In the 1960s and '70s, the British and French governments made a legendary misstep: betting on the Concorde. A joint manufacturing effort between Sud Aviation and British Aircraft, their supersonic ...

Human beings do not respond rationally to “sunk costs.” We persist in doing what we’ve always done because, well, that’s what we’ve always done. We confuse loyalty with stubbornness. We are reluctant ...

Forbes contributors publish independent expert analyses and insights. Mark Travers writes about the world of psychology. Unhappy relationships are an unfortunate reality for many. People find ...

The sunk cost fallacy addresses the tendency of people to continue on a suboptimal path because they have committed a lot of time or resources to it already. Investors, for example, may double down on ...