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SUNK-COST FALLACY
A "sunk cost" is a cost that you have already incurred and that you cannot recover.
A commonly-used economics term that refers to an unavoidable cost that has already been incurred; a cost
which has already been sunk into a particular activity or enterprise. Sunk cost can be used to represent the sum
of all past costs incurred, including embedded costs and capital costs, but it does not include labor, rental,
maintenance or other ongoing charges for things required in the present
The sunk cost fallacy is a form of "throwing good money after bad", you look at what has been spent so far and
can't bear to waste that money, so you press on regardless of how much more needs to be spent. Governments
use this logic all the time to keep injecting cash into some giant folly even when it is clear that the amount
remaining to be spent is not worth the gain it will bring
******LINKS******
Sunk-Cost Fallacy - war as
casino game
Searching for the Sunk Cost Fallacy
Sunk Cost - Rationality and acting for the sake of the
past
The sunk
cost fallacy
Fallacy of Sunk
Cost & Transsexualism
Sunk Costs
- Sunk Cost
Sunk Costs and Sinkerballs An Analogy
Unsinkable Sunk Cost
-Werther Report: The Sunk Cost
Fallacy
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