Answered

Discover new information and insights with the help of IDNLearn.com. Get comprehensive answers to all your questions from our network of experienced experts.

The 'sunken cost fallacy' occurs when:

A. You invest so much effort into something, you don't want to stop
B. There is a great deal of time lost when distractions occur
C. You leave your Oreo too long in the milk, and it falls and sinks
D. You have to pay up for the brand-name organizational materials

Sagot :

GinnyAnsweridn

Final answer:

The sunk cost fallacy is the tendency to invest more in something despite it being non-recoverable. This behavior hinders decision-making based on future benefits rather than past investments.


Explanation:

The sunk cost fallacy refers to the tendency to invest more in something once a significant nonrecoverable investment has been made, even if further investment is not justified. This behavior occurs when individuals continue to put resources into a project or endeavor, despite evidence indicating it is no longer beneficial or viable.

For example, someone might persist in running a failing business because of the emotional attachment and past investments, rather than acknowledging the loss and moving on. Overcoming the sunk cost fallacy involves making decisions based on future prospects and benefits rather than past investments that cannot be recouped.

It is crucial for individuals and organizations to understand this fallacy and avoid making decisions influenced by past costs that should not impact future choices.


Learn more about Sunk Cost Fallacy here:

https://brainly.com/question/36535676


We value your presence here. Keep sharing knowledge and helping others find the answers they need. This community is the perfect place to learn together. Thank you for trusting IDNLearn.com. We’re dedicated to providing accurate answers, so visit us again for more solutions.