What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

Sunk costs refer to expenses that have already been incurred and cannot be recovered. In instances where sunk costs continue to influence either personal or business decisions (or both), investors may ...

Berlin's new airport was supposed to open in 2011 with a budget of 2 billion euros. Instead, it finally opened in 2020 after costing over 6 billion euros. The project was plagued with problems from ...

Sunk cost fallacy involves continuing investments due to past costs, not future benefits. Recognize irrational holding by setting pre-determined exit points for investments. Regularly review ...

Ever stayed in a terrible movie just because you already paid for the ticket? Or clung to a failing relationship because of “all the years you’ve put in”? If so, congratulations—you’ve met the sunk ...

Sales is all about the art of closing the deal. Behind the curtain, that means a lot of patience, persuasion and persistence. But what if that determination hurts more than it helps? Today’s economic ...

As some Republicans express buyer's remorse about Donald Trump's selection of J.D. Vance as the “worst choice” for vice president and Joe Biden ditches his stubbornness about staying in the 2024 ...