self-improvement.comThe sunk cost trap
Your next hour is still yours.
1:10 · English narration · Captions in the video
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Before continuing something just because you have invested in it, ask whether you would choose it now. Consider what you gain and give up from here.
Transcript
You paid for a movie. Halfway through, you’re bored. Your ticket can’t be refunded. But leaving feels wasteful: “I’ve already bought the ticket!” So you give it another hour.
That’s the sunk cost trap. A sunk cost is money, time or effort you’ve spent and can’t recover. “Sunk” means it’s already gone.
The idea comes from economics. In a 1985 paper, psychologists Hal Arkes and Catherine Blumer explored this pull. In their theater study, full-price ticket holders used more tickets than people given discounts during the first half of the season.
Your next hour is still yours. Staying won’t refund the ticket. Stay if you expect to enjoy the rest; leave if you’d rather spend that time differently.
Next time you feel “too invested to stop,” ask: “If I were choosing now, would I still choose this?” Consider what you’ll gain and give up from here. Let the next step earn its place.
A little wiser, every day. From Self-Improvement dot com.