First, a scope limiting definition: “The sunk‐cost fallacy occurs when prior investments instead of future returns influence decisions about future investments.”
Does anyone on this forum know of psychology research around sunk cost fallacies and how to persuade people out of them? It seems straightforward enough to persuade people into them (“We’ve lost thousands of lives and spent billions of dollars already! If we end the [unwinnable] war now it will all have been for nothing!”) but very hard to persuade people out of them.
If you are not aware of any psychological research, please feel free to provide ideas or anecdotes about your own success/lack thereof in persuading others out of their sunk cost thinking.
[Question] How to persuade people/groups out of sunk cost fallacy?
First, a scope limiting definition: “The sunk‐cost fallacy occurs when prior investments instead of future returns influence decisions about future investments.”
Does anyone on this forum know of psychology research around sunk cost fallacies and how to persuade people out of them? It seems straightforward enough to persuade people into them (“We’ve lost thousands of lives and spent billions of dollars already! If we end the [unwinnable] war now it will all have been for nothing!”) but very hard to persuade people out of them.
If you are not aware of any psychological research, please feel free to provide ideas or anecdotes about your own success/lack thereof in persuading others out of their sunk cost thinking.