sunk cost bias
Sunk cost bias is a cognitive bias where individuals are influenced by the costs they have already incurred and tend to continue investing time, money, or resources into a venture, even when the future benefits are unlikely or outweighed by further costs.
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Related Concepts (1)
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- anchoring bias
- availability bias
- bias in decision-making
- biases in decision making
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- cognitive biases in decision making
- cognitive biases in decision-making
- confirmation bias
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- hindsight bias
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