`economic-investments` Related Article Results

The Concorde fallacy describes the tendency of individuals or organizations to continue pursuing a project that is no longer economically rational or sensible, justifying their decision by reference to prior investments. This phenomenon is a specific manifestation of the concept known in economics and psychology as the “sunk cost fallacy.” The term Concorde fallacy derives from the Concorde supersonic passenger aircraft project developed jointly by the United Kingdom and France. Despite unsustai