Overcoming Sunk Cost Fallacy | The PRST
If you are on your Pursuit you will at some point be called to experiment or explore something new—-a new interest, a new opportunity, new friends, or new beginnings. Sometimes the these experiments and explorations will lead you exactly where you are supposed to be. Other times they will lead to a dead end or a potentially endless journey down the wrong path. The art of the pivot will be important to embrace and master.
The behavioral bias known as the sunk cost fallacy will make pivoting hard sometimes.
Learn what the sunk cost fallacy is, why we are susceptible to it, and how to overcome it.
