Cutting Your Losses: The Sunk Cost Fallacy

In this episode, MJ the tutor discusses decision-making with a focus on the sunk cost fallacy, a psychological trap that can lead businesses down costly paths. She explores what it is, how it can impact decisions, and why recognising when to cut your losses is crucial for success. Accounting Makes Cents is a biweekly podcast dedicated to CIMA accounting students and those still thinking about it. Episodes will range from providing study tips and resources to brief discussions of CIMA syllabus topics.   If you like the show, please hit subscribe to add it to your listening queue and to ensure you do not miss an episode. MJ the tutor would love to hear from you if you have ideas for future episodes. You can reach out by leaving a voice message.    Thanks for tuning in and see you on an Accounting Makes Cents episode soon!   The show transcripts are available on www.mjthetutor.comResources and links from this episode: Relevant Costs Decisions, Decisions: The Opportunity Cost Conundrum   Let’s connect: Facebook: facebook.com/mjthetutor Instagram: @mjthetutor X: @mjthetutor