sunk cost fallacy

sunk cost fallacy
sunk cost fallacy UK US noun [S] ECONOMICS, MANAGEMENT
the idea that a company or organization is more likely to continue with a project if they have already invested a lot of money, time, or effort in it, even when continuing is not the best thing to do: »

Economists would point out that the sunk cost fallacy is irrational, and could be described as ""throwing good money after bad"".

See also CONCORDE FALLACY(Cf. ↑Concorde fallacy)

Financial and business terms. 2012.

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