Sunk Cost Fallacy Quotes & Sayings

This mindset, known as loss aversion, the sunk-cost fallacy, and throwing good money after bad, is patently irrational, but it is surprisingly pervasive in human decision-making.65 People stay in an abusive marriage because of the years they have already put into it, or sit through a bad movie because they have already paid for the ticket, or try to reverse a gambling loss by doubling their next bet, or pour money into a boondoggle because they've already poured so much money into it. Though psychologists don't fully understand why people are suckers for sunk costs, a common explanation is that it signals a public commitment. The person is announcing: "When I make a decision, I'm not so weak, stupid, or indecisive that I can be easily talked out of it." In a contest of resolve like an attrition game, loss aversion could serve as a costly and hence credible signal that the contestant is not about to concede, preempting his opponent's strategy of outlasting him just one more round. — Steven Pinker

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects. — Daniel Kahneman

The sunk cost fallacy is most dangerous when we have invested a lot of time, money, energy, or love in something. This investment becomes a reason to carry on, even if we are dealing with a lost cause. — Rolf Dobelli