Have you ever encountered a subpar hotel breakfast while on holiday? You don’t really like the food choices on offer, but since you already paid for the meal as part of your booking, you force ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

Many people fall victim to the “sunk cost fallacy” at some point in their lives. Maybe you have stayed at an amusement park even though it was hot and crowded, or remained at a concert even though the ...

As some Republicans express buyer's remorse about Donald Trump's selection of J.D. Vance as the “worst choice” for vice president and Joe Biden ditches his stubbornness about staying in the 2024 ...

Many managers are susceptible to the famous sunk cost effect, whereby they persist investing in a money-losing project even when it makes sense to invest the new money in alternative new projects. The ...