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Apr 8, 2024 26 min

Overcome the Sunk Cost Fallacy

from Empowered Team Podcast Hosted by Kari Schneider and Paul Duerden

In this enlightening episode, Kari delves into the Sunk Cost Fallacy, a cognitive bias that leads us to continue investments based on past inputs rather than future potential. This results in misallocated resources and missed opportunities. She breaks down the emotional, justificatory, and fear-based roots of this fallacy and its impact on decision-making. Discover three pivotal strategies to escape the sunk cost trap: pre-defining clear exit criteria, conducting regular progress reviews, and shifting focus to future opportunities. This episode is essential for anyone looking to refine their decision-making process and lead with greater insight and efficiency.

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Overcome the Sunk Cost Fallacy

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This episode is 26 minutes long.

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This episode was published on April 8, 2024.

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