Sunk Cost Fallacy Quotes

The sunk-cost fallacy keeps people for too long in poor jobs, unhappy marriages, and unpromising research projects. ~ Daniel Kahneman

As long as he fought imaginary giants, Don Quixote was just play-acting. However once he actually kills someone, he will cling to his fantasies for all he is worth, because only they give meaning to his tragic misdeed. Paradoxically, the more sacrifices we make for an imaginary story, the more tenaciously we hold on to it, because we desperately want to give meaning to those sacrifices and to the suffering we have caused. ~ Yuval Noah Harari

The sunk cost fallacy is most dangerous when we have invested a lot of time, money, energy, or love in something. This investment becomes a reason to carry on, even if we are dealing with a lost cause. ~ Rolf Dobelli

This mindset, known as loss aversion, the sunk-cost fallacy, and throwing good money after bad, is patently irrational, but it is surprisingly pervasive in human decision-making.65 People stay in an abusive marriage because of the years they have already put into it, or sit through a bad movie because they have already paid for the ticket, or try to reverse a gambling loss by doubling their next bet, or pour money into a boondoggle because they've already poured so much money into it. Though psychologists don't fully understand why people are suckers for sunk costs, a common explanation is that it signals a public commitment. The person is announcing: "When I make a decision, I'm not so weak, stupid, or indecisive that I can be easily talked out of it." In a contest of resolve like an attrition game, loss aversion could serve as a costly and hence credible signal that the contestant is not about to concede, preempting his opponent's strategy of outlasting him just one more round. ~ Steven Pinker

This very personal relationship, 'value,' has two factors for a human being: first, what he can do with a thing, its use to him . . . and second, what he must do to get it, its cost to him. There is an old song which asserts 'the best things in life are free.' Not true! Utterly false! This was the tragic fallacy which brought on the decadence and collapse of the democracies of the twentieth century; those noble experiments failed because the people had been led to believe that they could simply vote for whatever they wanted . . . and get it, without toil, without sweat, without tears. ~ Robert A. Heinlein

The middle of the universe is tonight, is here, And everything behind is a sunk cost. ~ Marina Keegan

It is a fallacy to think that carping is the strongest form of criticism: the important work begins after the artist's mistakes have been pointed out, and the reviewer can't put it off indefinitely with sneers, although some neophytes might be tempted to try: "When in doubt, stick out your tongue" is a safe rule that never cost one any readers. But there's nothing strong about it, and it has nothing to do with the real business of criticism, which is to do justice to the best work of one's time, so that nothing gets lost. ~ Wilfrid Sheed

There are many arts and sciences of which a miner should not be ignorant. First there is Philosophy, that he may discern the origin, cause, and nature of subterranean things; for then he will be able to dig out the veins easily and advantageously, and to obtain more abundant results from his mining. Secondly there is Medicine, that he may be able to look after his diggers and other workman ... Thirdly follows astronomy, that he may know the divisions of the heavens and from them judge the directions of the veins. Fourthly, there is the science of Surveying that he may be able to estimate how deep a shaft should be sunk ... Fifthly, his knowledge of Arithmetical Science should be such that he may calculate the cost to be incurred in the machinery and the working of the mine. Sixthly, his learning must comprise Architecture, that he himself may construct the various machines and timber work required underground ... Next, he must have knowledge of Drawing, that he can draw plans of his machinery. Lastly, there is the Law, especially that dealing with metals, that he may claim his own rights, that he may undertake the duty of giving others his opinion on legal matters, that he may not take another man's property and so make trouble for himself, and that he may fulfil his obligations to others according to the law. ~ Georgius Agricola

If you were to gather all the minutes wasted on insignificant, immaterial yik yak spent throughout the day and add them up, how much misspent time do you think you'd have? One hour? Two hours? Consider the sunk cost on that. It's unacceptable. One minute wasted is one minute too much. ~ Ari Gold

A man lay before me. He had sunk as low as any I had ever known. Then he had fought his way back and back and had become worthy. A man far better than I, for he had located his moral pole star and set his course by it though it had cost his life. ~ Glen Cook

The moon has set In a bank of jet That fringes the Western sky, The pleiads seven Have sunk from heaven And the midnight hurries by; My hopes are flown And, alas! alone On my weary couch I lie. ~ Sappho

When two working people decide to marry, their federal income tax is usually increased. As soon as one spouse earns at least 20 percent of a married couple's total income, the couple pays a 'marriage tax.' ... The United States is the only major industrialized nation in the free world in which the tax cost of the second [married] earner's entry into the work force is higher than that of the first. On one hand, our government's social policy is to help working women earn equal salaries to those of men, but on the other we have a tax structure that penalizes them when they do so. ~ Millicent Fenwick

The writer, without softening his vision, is obliged to capture or conjure readers. And this means any kind of reader. It means whatever is there. I used to think that it should be possible to write for some supposed elite, for the people who attend the universities and sometimes know how to read, but I have since found that though you may publish your stories in the Yale Review, if they are any good at all you are eventually going to get a letter from some old lady in California, or some inmate of the Federal Penitentiary, or the state in sane asylum, or the local poorhouse, telling you where you have failed to meet his needs. And his need of course is to be lifted up. There is something in us as story-tellers, and as listeners to stories, that demands the redemptive act, that demands that what falls at least be offered the chance of restoration. The reader of today looks for this motion, and rightly so, but he has forgotten the cost of it. His sense of evil is deluded or lacking altogether, and so he has forgotten the price of restoration. He has forgotten the price of truth, even in fiction. ~ Flannery O'Connor

I sunk into velvety nothingness. It caressed my skin, lapped at my temples, the nape of my neck. It circled me like smoke, its touch light, but all consuming. And just as I was about to lose consciousness, I heard the voice. 'Hello, Kali. I'm Zev. ~ Jennifer Lynn Barnes

The dispersal of juniper seeds is effected by the plum and cherry plan of hiring birds at the cost of their board, and thus obtaining the use of a pair of extra good wings. ~ John Muir

Maybe the definition of home is the place where you are never forgiven. So you may always belong there, bound by guilt. And maybe the cost of belonging is worth it. ~ Gregory Maguire

What may be possible for a minority of humankind, albeit at great cost, simply cannot work for the humankind. Our kind of progress depends on lacerating the Earth,on gouging out its riches, on stripping is life-sustaining skin of soil and forest ~ Jonathon Porritt

We shouldn't let anti-science zealotry shut down the ability to produce low-cost, quality food for billions across the globe. ~ Ted Cruz

I think that the day a justice forgets that each decision comes at a cost to someone, then I think you start losing your humanity. ~ Sonia Sotomayor

Failing to curb the impact of climate change could damage the global economy on the scale of the Great Depression or the world wars by spawning environmental devastation that could cost 5 to 20 percent of the world's annual gross domestic product. ~ Nicholas Stern

One of the myths about the Internet of Things is that companies have all the data they need, but their real challenge is making sense of it. In reality, the cost of collecting some kinds of data remains too high, the quality of the data isn't always good enough, and it remains difficult to integrate multiple data sources. ~ Chris Murphy

I didn't set out like, "I'm gonna do this album, and I really want a #1 album." So it wasn't even on my mind like a goal to accomplish ... but as soon as it sunk it that it was an accomplishment, I realized I gotta start acknowledging milestones [I've] accomplished because sometimes you get so caught up in the bigger picture that you gotta stop and notice the steps you take to get to the bigger picture. ~ Ryan Montgomery

If evolution is a struggle for survival, why hasn't it ruthlessly eliminated altruists, who seem to increase another's prospects of survival at the cost of their own? ~ Peter Singer

Frankly, if you can sell something at $80 a tonne that cost you $20 a tonne, you might want to sell as much as you can. ~ Kerry Stokes

I am often filled with wonder when I see some men demanding the time of others and those from whom they ask it most indulgent. Both of them fix their eyes on the object of the request for time, neither of them on the time itself; just as if what is asked were nothing, what is given, nothing. Men trifle with the most precious thing in the world; but they are blind to it because it is an incorporeal thing, because it does not come beneath the sight of the eyes, and for this reason it is counted a very cheap thing - nay, of almost no value at all. Men set very great store by pensions and doles, and for these they hire out their labour or service or effort. But no one sets a value on time; all use it lavishly as if it cost nothing. But see how these same people clasp the knees of physicians if they fall ill and the danger of death draws nearer, see how ready they are, if threatened with capital punishment, to spend all their possessions in order to live! So great is the inconsistency of their feelings. But if each one could have the number of his future years set before him as is possible in the case of the years that have passed, how alarmed those would be who saw only a few remaining, how sparing of them would they be! And yet it is easy to dispense an amount that is assured, no matter how small it may be; but that must be guarded more carefully which will fail you know not when. ~ Seneca

When science shall have effectually demonstrated to us the origin of matter, and proved the fallacy of the occultists and old philosophers who held (as their descendants now hold) that matter is but one of the correlations of spirit, then will the world of skeptics have a right to reject the old Wisdom, or throw the charge of obscenity in the teeth of the old religions. ~ H. P. Blavatsky

It would cost you a groaning to take off my edge. ~ William Shakespeare

A cap and trade bill will likely increase the costs of electricity ... These costs will be passed on to the consumers. But the issue is, how does it actually ... how do we interact in terms with the rest of the world? If other countries don't impose a cost on carbon, then we would be at a disadvantage ... We should look at considering duties that would offset that cost. ~ Steven Chu

Marlowe grinned. That so? I couldn't disagree more. Is that Nietzsche talking? Ah, the Germans. We have a factory in Germany, you know. Actually, Germany is a fine example, so let's take Germany: They were crushed in the Great War. Their debt was staggering. A pound of bread cost nearly three billion Marks! The Reichsmark was practically worthless - you'd have better luck papering your house with it than trying to buy goods or pay your bills. But Marlowe Industries is going to help them get on their feet. We're going to change the world. ~ Libba Bray

We have not noticed how fast the rest has risen. Most of the industrialized world--and a good part of the nonindustrialized world as well--has better cell phone service than the United States. Broadband is faster and cheaper across the industrial world, from Canada to France to Japan, and the United States now stands sixteenth in the world in broadband penetration per capita. Americans are constantly told by their politicians that the only thing we have to learn from other countries' health care systems is to be thankful for ours. Most Americans ignore the fact that a third of the country's public schools are totally dysfunctional (because their children go to the other two-thirds). The American litigation system is now routinely referred to as a huge cost to doing business, but no one dares propose any reform of it. Our mortgage deduction for housing costs a staggering $80 billion a year, and we are told it is crucial to support home ownership, except that Margaret Thatcher eliminated it in Britain, and yet that country has the same rate of home ownership as the United States. We rarely look around and notice other options and alternatives, convinced that "we're number one. ~ Fareed Zakaria

He saw nothing but the gentle ruffling of the leaves in the wind, but as he finished his sweep of the area, he somehow knew.
"Sophie!"
He heard a gasp, followed by a huge flurry of activity.
"Sophie Beckett," he yelled, "if you run from me right now, I swear I will follow you,and I will not take the time to don my clothing."
The noises coming from the shore slowed.
"I will catch up with you," he continued, "because I'm stronger and faster. And I might very well feel compelled to tackle you to the ground, just to be certain you do not escape."
The sounds of her movements ceased.
"Good," he grunted. "Show yourself."
She didn't.
"Sophie," he warned.
There was a beat of silence, followed by the sound of slow, hesitant footsteps, and then he saw her, standing on the shore in one of those awful dresses he'd like to see sunk to the bottom of the Thames.
"What are you doing here?" he demanded.
"I went for a walk.What are you doing here?" she countered. "You're supposed to be ill.That-" she waved her arm toward him and, by extension, the pond- "can't possibly be good for you."
He ignored her question and comment. "Were you following me?"
"Of course not," she replied, and he rather believed her. He didn't think she possessed the acting talents to fake that level of righteousness.
"I would never follow you to a swimming hole," she continued. "It would be indecent."
And then her face went completely red, beca ~ Julia Quinn

Candles blazing, the people closet to me in the world sang "Happy Birthday," and I grinned like a fool and tried not to cry because it was so wonderful and so disarming - almost like being transported back to a moment in childhood that I had not actually lived through. I blew out the candles and everyone cheered. "Thank you all for being here with me," I said, too choked up to manage more. It is so easy to go through your days stewing about someone stealing your parking spot without giving the same attention to your child's arms around your neck, to grumble about the ever-increasing cost of groceries without realizing just how good it is have warm toast and a fresh cup of coffee while sitting across from the one you love. ~ Camille Pagan

We've been working now with computers and education for 30 years, computers in developing countries for 20 years, and trying to make low-cost machines for 10 years. This is not a sudden turn down the road. ~ Nicholas Negroponte

In a very deliberate motion, he squared my shoulders in front of his and clasped my arms. "I know I could never ask you to leave River Oaks. It means a lot more to you than my family's house means to me. Your aunt Jettie is there. It's your home. I would like it to be my home, too. I want to make a life with you, and for most people, that means living in the same house."
Gabriel kissed me, as gentle as an angel's wing brushing across my lips. "You're my bloodmate in every sense of the word, the person I choose to spend the rest of my immortal life with, if you can stand me that long."
"That's what that means?" My forehead wrinkled in concentration, and I tried to remember the first time I'd hear that word. "Wait, you told Missy the crazy Realtor that she'd suffer dire consequences if she hurt your 'bloodmate.' That was more than a year ago."
"I knew even then. You're it for me, Jane. You're my eternity."
"Well, why couldn't you have told me?" I exclaimed.
Gabriel shrugged. "You - "
"I wasn't ready to hear it yet," I finished for him. "I'm sorry." But as the enormity of what Gabriel had just said sunk in, a huge grin split my face.
I brought it under control, so I could narrow my eyes at him. "So, you're saying you will tell me everything now. You won't try to protect me or keep me in the dark. You'll trust me to make a rational decision about bad news after I have my inevitable, initial panic attack?"
He nodded solemnly. "I will."
~ Molly Harper

You seemed to be listening to me, not to find out useful information, but to try to catch me in a logical fallacy. This tells us all that you are used to being smarter than your teachers, and that you listen to them in order to catch them making mistakes and prove how smart you are to the other students. This is such a pointless, stupid way of listening to teachers that it is clear you are going to waste months of our time before you finally catch on that the only transaction that matters is a transfer of useful information from adults who possess it to children who do not, and that catching mistakes is a criminal misuse of time. ~ Orson Scott Card

We need an honest bottom line. Today that bottom line is vastly subsidized. If anyone of us were paying the full cost of oil our bottom lines would be very different. If you internalize the cost of oil, look at the cost of the war in the Middle East or the cost of global warming for future generations, if you internalize those external costs and what you pay, that bottom line would look very different, what ever business you are in. ~ Ray Anderson

If one individual, or one class, can call in the aid of authority to ward off the effects of competition, it acquires a privilege and at the cost of the whole community; it can make sure of profits not altogether due to the productive services rendered, but composed in part of an actual tax upon consumers for its private profit' which tax it commonly shares with the authority that thus unjustly lent its support. ~ Jean-Baptiste Say

When you think of the costs of cancer care, one can imagine that drugs like checkpoint blockers or transfer of these T lymphocytes are actually cost-saving, just as treatments for hepatitis C, while expensive, overall save money by preventing hepatitis and hep - hepatocarcinoma in patients. ~ Laurie Glimcher

One thing which even the most seasoned and discerning masters of the art of choice do not and cannot choose, is the society to be born into - and so we are all in travel, whether we like it or not. We have not been asked about our feelings anyway. Thrown into a vast open sea with no navigation charts and all the marker buoys sunk and barely visible, we have only two choices left: we may rejoice in the breath-taking vistas of new discoveries - or we may tremble out of fear of drowning. One option not really realistic is to claim sanctuary in a safe harbour; one could bet that what seems to be a tranquil haven today will be soon modernized, and a theme park, amusement promenade or crowded marina will replace the sedate boat sheds. The third option not thus being available, which of the two other options will be chosen or become the lot of the sailor depends in no small measure on the ship's quality and the navigation skills of the sailors. Not all ships are seaworthy, however. And so the larger the expanse of free sailing, the more the sailor's fate tends to be polarized and the deeper the chasm between the poles. A pleasurable adventure for the well-equipped yacht may prove a dangerous trap for a tattered dinghy. In the last account, the difference between the two is that between life and death. ~ Zygmunt Bauman

In the shadow my father has cast over my entire life, you are the only light I can see anymore. And, whatever the cost, I refuse to let that light be extinguished ~ Morgan Rhodes

Gene patents are the point of greatest concern in the debate over ownership of human biological materials, and how that ownership might interfere with science. As of 2005 - the most recent year figures were available - the U.S. government had issued patents relating to the use of about 20 percent of known human genes, including genes for Alzheimer's, asthma, colon cancer, and, most famously, breast cancer. This means pharmaceutical companies, scientists, and universities control what research can be done on those genes, and how much resulting therapies and diagnostic tests will cost. And some enforce their patents aggressively: Myriad Genetics, which holds the patents on the BRCA1 and BRCA2 genes responsible for most cases of hereditary breast and ovarian cancer, charges $3,000 to test for the genes. Myriad has been accused of creating a monopoly, since no one else can offer the test, and researchers can't develop cheaper tests or new therapies without getting permission from Myriad and paying steep licensing fees. Scientists who've gone ahead with research involving the breast-cancer genes without Myriad's permission have found themselves on the receiving end of cease-and-desist letters and threats of litigation. ~ Rebecca Skloot

A price decline is of no real importance to the bona fide investor unless it is either very substantial say, more than a third from cost or unless it reflects a known deterioration of consequence in the company's position. In a well-defined bear market many sound common stocks sell temporarily at extraordinary low prices. It is possible that the investor may then have a paper loss of fully 50 per cent on some of his holdings, without any convincing indication that the underlying values have been permanently affected. ~ Benjamin Graham

Nowadays the big Hollywood studios only make about three movies a year, and they cost about $200 million each. There's no room for error in that, and not a lot of room, I would think, for free expression. ~ Robbie Coltraine

They sensed that what had happened around them and in their presence, and in them, was irrevocable. Never again could it be cleansed; it would prove that man, the human species - we, in short - had the potential to construct an enormity of pain, and that pain is the only force created from nothing, without cost and without effort. It is enough not to see, not to listen, not to act. ~ Primo Levi

A sympathizer is a fellow that's for you as long as it doesn't cost anything. ~ Kin Hubbard

My research shows that improving the quality of education is a cost-free way to raise prosperity. it's cost-free because it reinforces so many of the other things we need to keep the virtuous cycle rolling that, ultimately, the increase in economic benefits far outstrips the cost of the investment. Education brings more people into the comfort zone of higher income, which increases trust, then causes people to demand better government, which further increases the trust, which further reduces inequality, which increases the pool of those who will get a good education. ~ Paul J. Zak