Sunk Costs: Why It’s Hard To Purge Our Belongings
I read the other day that reporting on the cost and casualties of war can sometimes lead to increased support and investment, because people don’t want the investment to be for naught, and the first thing I thought of was all my stuff. Not joking. Here’s why: People don’t make rational decisions. We’re influenced by a number of things and one of the most powerful is our aversion to loss. […]
Read more