Julia Galef: The Sunk Costs Fallacy

President of the Center for Applied Rationality Julia Galef described the pervasive “sunk costs fallacy.“ Transcript -- So I want to introduce you to a concept known as the sunk cost fallacy. Imagine that you’re going to the store and you’re halfway there when you realize, “Oh wait, the store is actually closed today.“ But you figure, “Well, I’ve already come ten blocks. I might as well just go all the way to the store, you know, so that my ten blocks of walking won’t have been wasted. Well, this