Explore the sunk cost dilemma, a key financial concept impacting decisions on investing in failing projects. Learn how to manage it with real-world examples and insights.

A sunk cost refers to any money, time, or resources that have been irretrievably spent and cannot be recovered, regardless of any future actions or decisions. Once incurred, this cost is permanently ...

Discover what avoidable costs are, how they benefit businesses, and real-world examples of strategies to minimize expenses and boost financial flexibility.

The longer we stay trapped in the sunk cost fallacy mindset, the harder it can be to break free from being stuck in a career rut · SDI Productions via Getty Images It’s extremely difficult to walk ...

Berlin's new airport was supposed to open in 2011 with a budget of 2 billion euros. Instead, it finally opened in 2020 after costing over 6 billion euros. The project was plagued with problems from ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

It may not be smart, but we value something more if we’ve put a lot of sweat equity into it. Neuroscientists may have figured out the biochemical basis of why. Ahab hunting down Moby Dick. Wile E.

Sales is all about the art of closing the deal. Behind the curtain, that means a lot of patience, persuasion and persistence. But what if that determination hurts more than it helps? Today’s economic ...

Imagine standing in a long queue for two hours. You want to give up but because you’ve already wasted so much time, you feel you should stick it out. This is sunk cost fallacy. It’s the idea that so ...