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 ...

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 ...

In the 1960s and '70s, the British and French governments made a legendary misstep: betting on the Concorde. A joint manufacturing effort between Sud Aviation and British Aircraft, their supersonic ...

Berlin's new airport was supposed to open in 2011 with a budget of 2 billion euros. Instead, it finally opened in 2020 after costing over 6 billion euros. The project was plagued with problems from ...

Sunk costs are unrecoverable and should not influence future spending decisions. Not all fixed costs are sunk; some can be recouped, like equipment resale. Sunk costs can result from both everyday ...

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 ...