Irrational Escalation
The phenomenon where people continue a failing course of action due to the amount of resources already invested. Important for recognizing and mitigating biased decision-making.
2 topics found for:
“sunk cost fallacy”
Sunk Cost Fallacy
The tendency for individuals to continue a behavior or endeavor as a result of previously invested resources (time, money, or effort) rather than future potential benefits. Important for understanding decision-making biases and designing systems that help users avoid irrational persistence.