016: How to Make Better Decisions: Sunk Cost Bias




Productivity Paradox show

Summary: We sometimes invest so much time, money, energy and more into something. Whether it be a project, a person or a simple task, it can be hard to admit that it’s just not working out and producing the results you want and need. This is called sunk cost bias, and in this episode I’ll be explaining how it creates a vicious cycle and what questions you need to ask yourself to know whether to keep going in your investments or to start over.