Mind & EverydayMental model

The money's gone whether or not you finish the film.

Sunk costs are paid and won't come back: the 12-euro cinema ticket, three years in the wrong degree. Rationally, only future benefits and costs matter. Yet people stay seated so the expense "wasn't for nothing". Arkes and Blumer showed in 1985 with theatre season tickets: full-price buyers attended more often than those randomly given a discount.

Useful: Ask: would I start this today from scratch? If not, stop.

Source: en.wikipedia.org

Entscheidung Mental model

Difficulty:

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