Description
The phrase “throwing good money after bad” describes the very human tendency to continue to pursue a plan of action in the face of information that indicates we should pursue a different course of action. This is known as the sunk costs error. Why do we engage in this seemingly irrational behavior? Well, it’s difficult to admit when we are wrong, especially when we’ve already given the unsuccessful decision a lot of time and resources—we’re invested. Don’t be afraid to walk away when the data makes it clear that you should.
Find two scholarly articles on the sunk cost error and fully explain the error. 250 words. Original work only as I check EVERY paper
Explanation & Answer
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
Nervous Conditions
by Tsitsi Dangarembga
The Sixth Extinction An Unnatural History
by Elizabeth Kolbert
The Book Thief
by Markus Zusak
The Color Purple
by Alice Walker
Principles - Life and Work
by Ray Dalio
The President is Missing
by James Patterson, Bill Clinton
Good Kids Bad City
by Kyle Swenson
The Second Sex
by Simone de Beauvoir
Death on the Nile
by Agatha Christie