
Sign up to save your podcasts
Or
Do you think you make smart, rational decisions most of the time? Chances are good that even if you take pride in yourself on being rational most of the time, you still occasionally fall for the sunk cost fallacy. The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: Your decisions are tainted by the emotional investments you accumulate, and the more you invest in something the harder it becomes to abandon it.
Do you think you make smart, rational decisions most of the time? Chances are good that even if you take pride in yourself on being rational most of the time, you still occasionally fall for the sunk cost fallacy. The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: Your decisions are tainted by the emotional investments you accumulate, and the more you invest in something the harder it becomes to abandon it.