B.E. For Dogs: Sunk Cost

B.E. for Dogs is a bi-weekly comic series that will examine concepts in behavioral economics from the perspective of our canine companions. Look out for new comics every other week!

The series is created by Matt TrowerCatherine Berman, and Jamie Foehl.


Sunk Cost:  Have you ever continued with a project you knew would fail, simply because you put a lot of initial effort into it? Or held on to a losing investment for too long? The sunk cost effect describes our tendency to persist with something simply because we’ve invested a lot of money, time, or energy. Check out this classic paper by Hal R. Arkes and Catherine Blumer to learn more!

 


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