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Sunk Costs and Rational Decision-Making by api-61200414 is a document available to read on EtoBox.

What is Sunk Costs and Rational Decision-Making about?

This document summarizes and introduces issues around the concept of sunk costs and whether it is rational to consider them in decision making. It notes that while economists view considering sunk costs as irrational, individuals often seem to appeal to sunk costs in arguments. The author aims to question the conventional view that considering sunk costs is always irrational, as this view acts as a strong constraint on what can be considered a valid reason.

Author

api-61200414

Language

EN