What is the sunk cost fallacy?

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asked Jan 10 in Psychology by RamiroGottsc (290 points)

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answered Jan 10 by Bonita039700 (570 points)

The sunk cost fallacy is a cognitive bias in which people continue to invest time, money, or effort in a project or activity even if they know it is unlikely to succeed, because they have already invested so much.

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What is the sunk cost fallacy?

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