The Sunk Cost Fallacy
Idea to Value
MAY 28, 2021
If you or your company has invested in an innovation or project, and it just is not working, when is the right time to stop it? Or if everything is going fine in your company but the market is changing, how do you know when to change the business model? Research shows that the more an individual or company has previously invested in something (whether it be money, time or effort), the more likely they are to want to continue doing it, even if the correct decision would be to stop.
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