Topics
Sunk cost bias
The sunk cost bias is a tendency to continue a behaviour as result of previously invested resources (time, money or effort) e.g. people may order a large meal and continue to eat even though marginal utility is zero (or perhaps negative!)
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Behavioural Economics (Quizlet Revision Activity)
Quizzes & Activities
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Avoiding the sunk cost fallacy - Alphabet abandons Loon
22nd January 2021