What is the sunk cost bias or the sunk cost fallacy? How does it affect decision-making? The sunk cost bias or fallacy is a term that describes when someone keeps following through on an endeavor to justify previously invested resources. This tendency, which is related to loss aversion and status quo biases, is often the result of ongoing commitment and zeal towards a project. Keep reading for more about the sunk cost bias.
Sunk Cost Bias: Know When to Cut Your Losses










