Famous Quotes & Sayings

Sunk Cost Quotes & Sayings

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Sunk Cost Quotes By Marina Keegan

The middle of the universe is tonight, is here, And everything behind is a sunk cost. — Marina Keegan

Sunk Cost Quotes By Steven Pinker

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

Sunk Cost Quotes By Ari Gold

If you were to gather all the minutes wasted on insignificant, immaterial yik yak spent throughout the day and add them up, how much misspent time do you think you'd have? One hour? Two hours? Consider the sunk cost on that. It's unacceptable. One minute wasted is one minute too much. — Ari Gold

Sunk Cost Quotes By Daniel Kahneman

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

Sunk Cost Quotes By Rolf Dobelli

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