#sunkcosts

[four4soaring]

My friends, what I have now realized is that those sunk costs had me sunk.  I was mired in a morass of my own self-absorption, intent on getting and keeping...

[lessonsproject]

Should the new decision be based on past decisions? Past results? Amount of time already invested (sunk costs)?

From the song 'Please Stay' by The Drifters:

Don't go, please stay

Don't go, please stay

If I got on my knees and I pleaded with you

Not to go but to stay in my arms

Would you walk out the door like you did once before?

Or would this time be different, would you stay?

http://www.youtube.com/watch?v=NairS2nGEEw

[inertiadrummer]

Late night MBA jam sesh #sunkcosts #5forces #artsshowcase

[slowandfastthinking]

GLOSSARY sunk cost fallacy

wikipedia: http://en.wikipedia.org/wiki/Sunk_costs

Rather than consider the odds that an incremental investment would produce a positive return, people tend to "throw good money after bad" and continue investing in projects with poor prospects that have already consumed significant resources. In part this is to avoid feelings of regret

[stevetrost]

Check out #5 for a great example of ignoring sunk costs (from classmate Kelsey Carlston).