close popup

NEWS & RESOURCES

March 2, 2020 | GREG DAVID DERIN, ESQ.

Sunk Costs: How your mediator can help you avoid eating liver and onions

Driven by loss aversion, wars have been fought due to what is known as the “sunk cost fallacy.” Everything from my mother’s meatloaf, to a movie ticket, an outdated cellphone, to billions of dollars in armaments, can represent “sunk costs.” A sunk cost is one that has already been spent and cannot be recovered.

 

READ MORE

<
>