Economics
The Role of Sunk Costs in Business Decisions
Quick fact
The Concorde fallacy, named after the British-French supersonic jet, refers to continuing a failing project because huge amounts have already been spent, even when it's clear the project will never be profitable.
Why this is interesting
Have you ever finished a meal you didn't want just because you paid for it? That's the same mental trap that can lead businesses to pour good money after bad.