Sunk cost, fallacy, and dilemma
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Sunk cost dilemma
Describes the emotional difficulty of deciding whether to proceed with or abandon a project when time and money have already been spent but the desired results have not been achieved
Sunk cost
a cost that has already been paid and cannot be recovered
Sunk cost fallacy
a framing effect in which people make decisions about a current situation based on what they have previously invested in the situation
