Sentences with phrase «sunk cost fallacy»

Do you think it is a textbook example of sunk cost fallacy for India?

Even if the government is calculating based upon uncertainty, they may still be using sunk cost fallacy argumentation in their rhetoric, and that would be an interesting addition, or separate answer.

Sunk Cost Fallacy Dating.

Cognitive Dissonance: In the middle of a crunch, you might as well crunch more (see Sunk Cost Fallacy).

Right there, buried in all the cruft, are good and sensible posts (1, 2, 3, 4, 5) which are not only grounded in reality, but which also stray from the normalcy of Sunk Cost Fallacy and Cognitive Dissonance.

In our view as investors, the U.S. Federal Housing Finance Agency's (FHFA) «Single Security» initiative is emblematic of a sunk cost fallacy.

The first is that the Nuggets are wary of falling into the sunk cost fallacy.

Of course, this constitutes falling right into the sunken cost fallacy.

Individuals commit the sunk cost fallacy when they continue a behavior or endeavor as a result of previously invested resources (time, money or effort)(Arkes & Blumer, 1985).

The unwillingness of India to consider independence or cession of Jammu and Kashmir is unlikely to be an example of the sunk cost fallacy.

None of this is to say that cession of Jammu and Kashmir wouldn't be a preferred policy, only that the benefits and costs are relatively indeterminate, and consequently unlikely to rely primarily or solely upon the Sunk Cost Fallacy.

The sunk cost fallacy occurs when the agent relies upon already paid, or sunk, costs in their calculation to make that calculation rational.

What is the sunk cost fallacy?

Isn't all pride a sunk cost fallacy?

Cambridge Online Dictionary the idea that a company or organization is more likely to continue with a project if they have already invested a lot of money, time, or effort in it, even when continuing is not the best thing to do Behavioral economics Individuals commit the sunk cost fallacy when they continue a...

The «sunk cost fallacy» — a self - destructive quirk of human behavior — explains why we persist in losing.

What is the Sunk Cost fallacy?

Sunk cost fallacy — I am now planning to pay down our debt first.

Mental accounting can also, in some cases, fuel the sunk cost fallacy.

Very simply, the sunk cost fallacy states that past expenditures should have no bearing on future decisions.

Investors constantly allow the sunk cost fallacy to get in the way of sensible investing.

Of all the cognitive biases, none is more frequently experienced by investors than the sunk cost fallacy.

Sunk cost fallacy is the tendency of people to irrationally follow through on an activity that is not meeting their expectations because of the time and / or money they have already spent on it.

The sunk cost fallacy, hindsight bias, and anchoring are just a few of the most problematic.

In a nutshell, the sunk cost fallacy says that human beings tend to prefer to «throw good money after bad» because of a strong loss aversion.

In economics, there is a notion called the Sunk Cost Fallacy.

They discuss the sunken cost fallacy and game development, why Mass Effect 3 would be a bad first game for a new developer, and when a game designer is like a baseball player and when it's like a trauma surgeon.

We justify the time spent with them by spending more time with them, a videogame twist on the sunk cost fallacy.

This can be a hard concept to wrap your mind around, and it's what gives the sunk costs fallacy such a powerful grip on our minds.

The sunk costs fallacy tricks us into thinking that we have to stick with a project in which we are no longer invested, simply because we spent so much time / effort / expense on it already.

For more on realistic goal - setting and the sunk costs fallacy, give our interview with Growing Gills author and prolific comic artist Jessica Abel a listen.

Climate change policy has become a victim of the sunk costs fallacy.

The Sunk Costs Fallacy might be hurting the quality and profitability of your lawyering.

The Sunk Costs Fallacy is simple to describe and difficult to detect in our own behavior.

«Sunk Costs Fallacy» is a scientific name for what used to be called «throwing good money after bad.»

When combined with the effects of the sunk cost fallacy, it can cost you hundreds of thousands over the course of your career.

This is known as the sunk cost fallacy.

Just as the sunk cost fallacy makes us afraid of changing careers once we've already invested our time in something — even if we no longer like it — loss aversion makes us overly afraid of loss, which harms our career prospects.

Quick primer for people unfamiliar with the concept: The sunk cost fallacy occurs when you make a choice based solely on the resources you've already invested.

This allows you to make decisions more rationally and avoid traps like the sunk cost fallacy.