Sunk costs

From dKosopedia

Sunk costs irrationality refers to the "in for a penny in for a pound" thinking by whioch people who have made a bad decision are convinced to continue making the same bad decision again and again. Sunk costs arguments are often used by confidence men and conservative politicians.

Links

• rebound effect

References

• Charles Wolf, Jr. "The Present Value of the Past." Journal of Political Economy. 78 (July-August 1970), Pp. 783-792.