Opinions expressed by Forbes Contributors are their own. Tim Maurer covers how personal finance is more personal than finance. Sunk cost, opportunity cost, and the endowment effect. You may expect ...

In economics, a sunk cost is an expense that has already been spent, and there's no way to recoup the costs. For example, if you start watching a TV show and don't like it, you can't get that time ...

Sunk costs are unavoidable. They derive from past events and cannot be avoided. Payments for equipment purchased in the past or expenditures on research and development are examples. For that ...

Behavioral economics combines elements of economics and psychology ... and the danger of driving in the snowstorm unchanged. This is an example of the “sunk cost fallacy”—the idea that people are less ...

It’s a term borrowed from the finance world, but you don’t have to know a ton about economics to get it. “The sunk-cost fallacy refers ... in New York City. For example: continuing to ...

One such reason that influences the fate of our relationships is the sunk-cost fallacy. It refers to a commitment bias wherein individuals continue investing in something even if the outcome doesn ...