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 ...

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 ...

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 ...

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 ...

People tend to misunderstand the “sunk cost fallacy.” A firm invests in learning about a takeover target, and then hesitates to abandon the bidding or the search because it has sunk costs in this ...

Gift Article 10 Remaining As a subscriber, you have 10 articles to gift each month. Gifting allows recipients to access the article for free. In the 1960s and '70s, the British and French governments ...

A Reflection for Tuesday of the Third Week of Advent Which of the two did his father’s will? Find today’s readings here. The sunk cost fallacy is a theory that posits that we keep going down a path ...

To the editor: Blame the advisors. When the great leader disappoints, always blame the advisors (“Why MAGA’s ideologues can’t always get what they want,” July 29). After Mao Zedong died, his failings ...

Many people in long-term relationships have used the same phrase to quiet thoughts of leaving: But it’s already been so long! If I leave now, all of that time and effort will go to waste. As it turns ...