The Sunk Cost Fallacy: Why We Throw Good Money After Bad
The sunk cost fallacy explained: Arkes and Blumer's theatre experiment, loss aversion, the Concorde fallacy, escalation of commitment, and how to beat it.
July 2026
March 2026
Why Rational Decisions Feel Emotionally Wrong
Rational decisions feel wrong because your brain evolved for survival, not optimization. Emotions trigger fast but logic requires slow deliberation.
June 2025
Origins of Decision Theory: Key Developments
Decision theory origins: Bernoulli introduced expected utility in 1738. Von Neumann and Morgenstern developed game theory and axioms of...