Skip to main content

This is a classic example of the sunk cost fallacy at play | HPA

 

Fig: This is a classic example of the sunk cost fallacy at play | HPA

The sunk cost fallacy is a cognitive bias that occurs when we continue investing resources – be it time, money, energy, or emotions – into a situation or endeavour solely because we’ve already invested so much, even if the outcome is unfavourable or unlikely to improve.
In other words, we let our past investments dictate our future decisions, instead of objectively assessing the current circumstances.
Imagine you’re at a movie theatre, and you’ve paid for an expensive ticket to watch a film that turns out to be terrible. Instead of leaving the theatre and enjoying the rest of your day, you might feel compelled to stay and endure the movie, thinking, “I’ve already paid for the ticket, so I should at least get my money’s worth.”
This is a classic example of the sunk cost fallacy at play.

Visit our website,

www.highperformancealchemy.com

to discover how we can collaborate to help you and your team achieve your goals. Together, we can pave the way to success.


High Performance Alchemy
Contact: +91 7019143340

#ProactiveCareerGrowth #Ambition #OpportunityAwaits #GrowthMindset #successinmaking

Labels:

Comments

Post a Comment

Popular posts from this blog

Life Coaching

Obstacles are there for a reason.You have to equip yourself to get through it to your destination. #lifecoach #executivecoach #businesscoach #ceocoach #mentalhealth High Performance Alchemy www.satishrao.in Highperformancealchemy.com
Post a Comment
Read more

Life coaching

Keep shining and never ever feel guilty about it. #lifecoach #executivecoach #businesscoach #ceocoach #mentalhealth High Performance Alchemy www.satishrao.in Highperformancealchemy.com
Post a Comment
Read more

Why Do Employees Shy Away from Working on Emotional Centering?

Emotional centering, the practice of maintaining emotional balance and resilience, is crucial in today's fast-paced work environment. Despite its importance, many employees shy away from working on their emotional centering.  This reluctance can be attributed to several factors, including  §    misconceptions about emotional health,  §    cultural and organizational influences and  §    personal fears and insecurities. Misconceptions About Emotional Health One of the primary reasons employees avoid focusing on emotional centering is the widespread misconception that addressing emotions is a sign of weakness. In many cultures, there is a stigma associated with openly discussing feelings or seeking help for emotional issues. This stigma can make employees reluctant to engage in activities that promote emotional well-being, fearing they will be perceived as vulnerable or incapable. Moreover, some employees believe that emotions have no plac...
Post a Comment
Read more