Books
Fouad Sabry

Sunk Cost

What is Sunk Cost

In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Sunk cost

Chapter 2: Cognitive bias

Chapter 3: Daniel Kahneman

Chapter 4: Amos Tversky

Chapter 5: Behavioral economics

Chapter 6: Prospect theory

Chapter 7: Supply and demand

Chapter 8: Managerial economics

Chapter 9: Loss aversion

Chapter 10: Status quo bias

Chapter 11: Endowment effect

Chapter 12: Richard Thaler

Chapter 13: Planning fallacy

Chapter 14: Mental accounting

Chapter 15: Escalation of commitment

Chapter 16: Disposition effect

Chapter 17: Reference class forecasting

Chapter 18: Heuristic (psychology)

Chapter 19: Thinking, Fast and Slow

Chapter 20: Cognitive bias mitigation

Chapter 21: David Gal

(II) Answering the public top questions about sunk cost.

(III) Real world examples for the usage of sunk cost in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Sunk Cost.
287 printed pages
Original publication
2024
Publication year
2024
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