The Sunk Cost Fallacy: Why We Stay in Things We Should Leave | John David Balla, PhD
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The Sunk Cost Fallacy: Why We Stay in Things We Should Leave | John David Balla, PhD
By 1971, the British government privately acknowledged that the Concorde was a commercial disaster that should never have been started. They funded it for 27 more years. This is not a story about bad engineering. It is a story about a cognitive trap so powerful it overrode the judgment of entire governments, finance ministries, and engineering ...
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