Archive

April 2014

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The Fallacy Of Sunk Costs

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Imagine you’ve gone to your favorite restaurant. You order a great meal and start to eat. The portions are large and the food is fantastic. But after eating two thirds of the meal, you feel full. And today, no take-outs allowed. Would you finish the meal? Many of us would. I probably would. After all, I wouldn’t want the food to be “wasted.” This scenario is a classic case of...