Coût irrécupérable 💡

Sunk Cost Fallacy: The most common way in which people plan vacations is to decide where and when they want to travel, and only later do they consider the fares. (More on the fallacy of this approach and a superior strategy in Chapter 3.) Once we’ve mentally committed ourselves to a specific trip, not going or going somewhere else doesn’t feel like

Sunk cost is finding that once we’ve invested in something, we have a hard time giving up on that investment. Thus we are likely to continue investing in the same thing. In other words, we don’t want to lose that investment, so often we throw good money after bad, adding a dash of wishful thinking.