3Individuals are equally vulnerable to sunk-cost bias. It explains why we’ll continue to sit through a terrible movie because we’ve already paid the price of a ticket. It explains why we continue to pour money into a home renovation that never seems to near completion. It explains why we’ll continue to wait for a bus or a subway train that never comes instead of hailing a cab, and it explains why we invest in toxic relationships even when our efforts only make things worse. Examples like this abound; consider the somewhat bizarre story of an American named Henry Gribbohm, who recently spent
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