Economists would point out that the sunk cost fallacy is irrational, and could be described as ""throwing good money after bad"".
Financial and business terms. 2012.
Sunk costs — In economics and business decision making, sunk costs are retrospective (past) costs that have already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs, which are future costs that may be incurred… … Wikipedia
Concorde fallacy — UK US noun [S] ECONOMICS, MANAGEMENT ► the idea that you should continue to spend money on a project, product, etc. in order not to waste the money or effort you have already put into it, which may lead to bad decisions: »The Concorde fallacy… … Financial and business terms
Escalation of commitment — was first described by Barry M. Staw in his 1976 paper, Knee deep in the big muddy: A study of escalating commitment to a chosen course of action .[1] More recently the term sunk cost fallacy has been used to describe the phenomenon where people… … Wikipedia
Cincinnati Subway — Info Owner SORTA Locale Cincinnat … Wikipedia
Cognitive bias — For an article about the conceptual problems of the mind see Cognitive closure (philosophy). Psychology … Wikipedia
Behavioral economics — and its related area of study, behavioral finance, use social, cognitive and emotional factors in understanding the economic decisions of individuals and institutions performing economic functions, including consumers, borrowers and investors,… … Wikipedia
Glossary of poker terms — The following is a glossary of poker terms used in the card game of poker. It supplements the Glossary of card terms. Besides the terms listed here, there are thousands of common and uncommon poker slang terms. This is not intended to be a formal … Wikipedia
Bluff (poker) — In the card game of poker, to bluff is to bet or raise with an inferior hand. This is useful because it can cause other players to believe the bluffing player has a dominant hand, so that they all fold; the bluffing player then wins the pot. By… … Wikipedia
Point of no return — For other uses, see Point of no return (disambiguation). Crossing the Rubicon redirects here. For other uses, see Crossing the Rubicon (disambiguation). The point of no return is the point beyond which one must continue on his or her current… … Wikipedia
List of cognitive biases — A cognitive bias is a pattern of poor judgment, often triggered by a particular situation. Identifying poor judgment, or more precisely, a deviation in judgment, requires a standard for comparison, i.e. good judgment . In scientific… … Wikipedia
