HOW THE SUNK COST FALLACY IMPACTS YOUR RELATIONSHIPS.

This article discusses the sunk cost fallacy, a psychological phenomenon where individuals continue to invest in something based on past investments that cannot be recouped. The author provides examples of how this fallacy can impact financial decisions, such as sitting through a movie you dislike to justify the cost of the ticket or continuing to go to the gym despite a painful injury because of a nonrefundable membership. The article also explores how the sunk cost fallacy can affect larger-scale decisions, like the U.S. involvement in the Vietnam War and ongoing investments in fossil fuels. Additionally, the article highlights how the sunk cost fallacy can impact relationships, citing a study that suggests individuals are more likely to stay in unhappy relationships when they have invested significant time and effort. The author suggests that the desire to minimize waste and the concept of a mental "bank account" for investments may contribute to this fallacy. While the sunk cost fallacy can sometimes help individuals achieve goals, it is important to recognize when it is no longer beneficial and how to overcome it. [Extracted from the article]