Senator John B. Coghill (R, Gerrymander), who emphatically does not represent WC

Senator Coghill and the Sunk Cost Fallacy


At absolutely no cost, WC offers Senator John Coghill (R, Don’t Blame WC) an object lesson in the Sunk Cost Fallacy. First, let’s all refresh our recollections on the elements of the Sunk Cost Fallacy. It happens when people justify increased investment in a decision, based on the cumulative prior investment, despite new evidence suggesting that the cost, going…