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Daily Archives: March 22, 2023

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Is Sunk Cost Bias Affecting Your Spending Decisions?

UncategorizedBy Patty HansenMarch 22, 2023

A sunk cost is simply money, time, or resources that you have already spent and can’t get back. Another word for them is retrospective costs. The bias comes into the picture when we consider those costs in future decisions. One example is when you have already invested a lot of time and money in a…

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