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What Is the Sunk-Cost Fallacy and How to Avoid It
Kamya Pandey
March 30, 2023
Sunk cost fallacy refers to a situation where an irrecoverable expense (“sunk cost”) has been made and is used as a justification to continue that endeavor, no matter how futile it may be. Almost all of us have made irrecoverable expenses in our day-to-day lives, like buying tickets to a film or a concert.