Sunk Cost Fallacy

Deleted member 16771 said:
The issue there is not so much about avoiding ego damage, but rather the default value we place on the value of another human being.

If we tend to value people highly, and thus hold the view that everybody is worthy of maximal love/interest, &c., then we can be particularly vulnerable to this
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Exactly! Thanks for the words! They were lacking in me.
 
I agree with Deleted member 16771 that when it comes to people, it isn't really the economic investment or even time investment. That's secondary. The emotional investment is primary.
 
Great topic @Reason!

Like others, I've done this in relationships. I've always had one big excuse that tipped the scales toward staying. Those excuses were never worth it. In the end it is simply about the humility that our hearts were wrong.

I worked for one of the best professional photo labs in the country. Photogs from all over the world used our services. Name a famous (living) photographer and we printed their work. We also printed for museums, galleries, universities, etc. When digital emerged it couldn't compete with our top of the line equipment and skills. As digital advanced my bosses refused to invest. Chemical photography was the way we had always done things. We tanked.

There is a family story about how my grandmother refused to stop investing in the railroad despite being explicitly told to get her money out. She refused because, "Railroads [were] the American way". She lost a lot of money. I'm financially conservative and this story definitely factors in.

People do this with politics and sports teams, too.
 
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philostam said:
This is a very tough one. Espescially when it comes to education. One of my closest friends chose a field of study that a) isn't great in terms of employment prospects and b) he doesn't have huge passion for it. At least if he had that, he could become a scholar or something.

But it's very hard to back out and change track. He's an ENFJ as well and isn't particulary versed in thinking about himself, his decisions, future etc. He also suffers from analysis paralysis, trying to figure out the best way to move forward but then not actually doing anything. I fear he is gonna go the same path as his dad, who has a PhD in some pretty niche and useless discipline but is unemployed for last 20 years.

Life is hard if you mess up your education and don't have the luxury to inherit tons of money. You either need to be really brave and start from scratch or simply learn some additional skills on the side, or you can be stuck forever. Or even worse, you start comming up with some delusional business plans that almost never work and can put you and your family in even deeper pit.
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I personally have come to believe that everyone should go through a period of temp work or internships early in life and try out as much of a variety of work as is possible. If I have kids i'll give the same advice as the great Harry Ruby: "Sample everything in life except incest and folk dancing"
Deleted member 16771 said:
If we tend to value people highly, and thus hold the view that everybody is worthy of maximal love/interest, &c., then we can be particularly vulnerable to this.

Having said that, when it comes to people, I'm not sure that we can ever speak of our investment in them in economic terms. Sure, often it collides with our self-interest, but in purely moral terms the investment in other human beings can't ever be described as a 'sunk cost'.
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LIVE ORGAN HARVESTING makes people valuable.

[Just kidding, good point as always my friend]
 
I'm actually pretty persistent. Even when things go wrong. The only time I'm not persistent is when I'm dating or trying to date.

"Anything other than yes is no.
Anything other than stay is go.
Anything less than "I love you" is lying."
 
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Pin said:
I'm actually pretty persistent. Even when things go wrong. The only time I'm not persistent is when I'm dating or trying to date.

Anything other than yes is no.
Anything other than stay is go.
Anything less than "I love you" is lying.
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Those would honestly make some fire lyrics.
 
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