Which of the following occurs when a person has already invested in a course of action, and does not recognize what they invested initially is gone?
A) sunk costs fallacy
B) satisficing
C) hindsight bias
D) overconfidence bias

Question

Quizplus · Accepted Answer

This is a classic example of the sunk costs fallacy, where people tend to continue investing in a course of action even after realizing it's not working because they have already invested time, effort, and/or money in it. They feel like they cannot just abandon it because it would mean admitting a mistake and all the initial investment would go to waste.

Which of the Following Occurs When a Person Has Already