Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

Learn what the sunk cost fallacy is, why people stick with bad decisions, and how to recognize this bias in money, work, ...

Ever stayed in a terrible movie just because you already paid for the ticket? Or clung to a failing relationship because of “all the years you’ve put in”? If so, congratulations—you’ve met the sunk ...

Sunk cost fallacy involves continuing investments due to past costs, not future benefits. Recognize irrational holding by setting pre-determined exit points for investments. Regularly review ...

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 ...

What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...