I was reading a post today that reminded me of the above phrase. The definition of sunk cost fallacy :
the phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial.
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Comments
Interesting it has a name
Also applies to home improvement projects that don't go anywhere after the first bump in the road. There is never a plan B and no amount of convincing to try another way is accepted.
Dr Phil
I think this phenomenon of sunk cost fallacy is what Dr Phil is referring to when he says the only thing worse than staying in a bad relationship for 10 years is staying in a bad relationship for 10 years and one day.
This applied to me in my
This applied to me in my first marriage. I was thinking at the time that I did not want to be seen as a failure, if I stayed with him I would be the only one out of my immediate family who wasn't divorced, I did not want to have my children come from a " broken home ", etc . It was clear that divorce for me was the better option, rather than staying with someone who was abusive and controlling.