What is the 'sunk cost fallacy'? Is it ever a good thing? - eviltoast
When we invest money, time or another resource we can’t get back, factoring that sunk cost into our future decisions can be a trap.
  • PeepinGoodArgs@reddthat.comEnglish
    2·
    11 months ago

    The best expression is one quoted by economist Emily Oster: “If you don’t like your beer, stop drinking it.”

    But if you’re trying to develop an affinity for IPAs for some stupid reason, then shouldn’t you keep drinking it?

    • ℕ𝕖𝕞𝕠@midwest.socialEnglish
      4·
      11 months ago

      Sure, that’s future-oriented. It’s stupid, but not fallacious.

      But if you’re just drinking it because you paid $8 and you don’t want to “waste it”, THAT is sunk cost fallacy.