Past Meetup

Skeptics Supper Central - The Power of the Sunk Cost Fallacy

This Meetup is past

20 people went

Every 3rd Wednesday of the month

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This month, let's discuss the sunk cost fallacy and how it can play a crucial role in continuing to make the same mistakes, in compounding errors, in failing to properly predict future values and returns, and in avoid ing changes which would be more beneficial.

https://youarenotsosmart.com/2011/03/25/the-sunk-cost-fallacy/

This isn't just a human problem, as it turns out. A recent study found that rats and mice also commit this fallacy:

https://www.sciencedaily.com/releases/2018/07/180713111925.htm

Bring your own anecdotes and ideas about how sunk cost fallacies have impacted your lives, how you try to avoid them, and what we might do to help teach this concept to children so that they have a chance to avoid making this costly mistake as often as we all do.