Sunk Costs

Last fall, I had tickets to an NFL game. It was freezing that day, and all my friends backed out. But I didn’t want to waste the $70 I’d spent on the ticket. So I went to the game and was absolutely miserable. I hate to admit it, but my friends were right. I didn’t even have much vested interest in the teams playing. Nor did I have a good time at the game; I would’ve been much better off just watching it from the comfort of my couch. But I was obsessed with not having wasted the money I spent on the ticket. In hindsight, I know I should have recognized that it was a sunk cost, chalked up … Read more