A sunk cost refers to any money, time, or resources that have been irretrievably spent and cannot be recovered, regardless of any future actions or decisions. Once incurred, this cost is permanently ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

A Reflection for Tuesday of the Third Week of Advent Which of the two did his father’s will? Find today’s readings here. The sunk cost fallacy is a theory that posits that we keep going down a path ...