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Sunk Cost Fallacy: Difference between revisions
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[[File:Sunk cost Fallacy.png|alt=Sunk cost Fallacy|thumb|'''Figure 1'''. The coins behind the coin pusher glass are a highly apparent sunk cost.]] | [[File:Sunk cost Fallacy example.png|alt=Sunk cost Fallacy|thumb|'''Figure 1'''. The coins behind the coin pusher glass are a highly apparent sunk cost.]] | ||
'''The Sunk Cost Fallacy is when someone continues doing something because of the effort they already put | '''The Sunk Cost Fallacy is when someone continues doing something because of the effort they already put into it, regardless of whether the additional costs outweigh the potential benefits.''' It is the psychological mechanism which perpetuates the gambling industry. | ||
=== A simple example... === | === A simple example... === | ||