The Sunk Cost Fallacy: How It Affects Your Life Decisions
The sunk cost fallacy is a cognitive bias that makes you feel as if you should continue pouring money, time, or effort into a situation since you’ve already “sunk” so much into it already. This perceived sunk cost makes it difficult to walk away from the situation since you don’t want to see your resources wasted.
When I took an economics class in college, the idea was broached that it could be possible for finishing a degree to be a sunk cost fallacy, if you realized that the degree didn’t benefit you or wasn’t a good use of your time midway through finishing it, and the effort you already put into it shouldn’t be a consideration. This was a very unpopular idea and most students in the class refused to believe the Sunk Cost fallacy is a real fallacy.