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Psychology

The Sunk Cost Fallacy in Personal Decision-Making

Quick fact

In a classic experiment, people were more likely to continue a theater subscription series after missing a performance if they had paid full price, despite knowing the next shows were also likely to be bad. They kept going because of the sunk cost of the ticket, even though the money was already gone.

Why this is interesting

You've already paid for the movie ticket, but it's terrible. Do you stay because you paid for it? Why is it so hard to walk away?