You accidently book two ski trips for the same weekend. The first seems more fun but the second cost twice as much. Which trip do yo choose? The majority of chose the more expensive trip, even though they thought they would enjoy it less.
We prioritise the actions we’ve put or time into, regardless of whether the costs outweigh the benefits.
See the full study here :
Arkes, H. R., & Blumer, C. (1985). The psychology of sunk cost. Organizational behavior and human decision processes, 35(1), 124-140, https://doi.org/10.1016/0749-5978(85)90049-4
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