It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

What happens when an entrepreneur realizes their project isn't delivering? It can create a crossroad between perseverance and prudence—the point where passion meets pragmatism. The resulting decision ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...

Berlin's new airport was supposed to open in 2011 with a budget of 2 billion euros. Instead, it finally opened in 2020 after costing over 6 billion euros. The project was plagued with problems from ...

A neighbor and I were commiserating over a 6-foot distance about our recent losses. He said his retirement portfolio was way down, but “it’s not a loss until you cash it out.” This is a common mistake ...

Ever stayed in a terrible movie just because you already paid for the ticket? Or clung to a failing relationship because of “all the years you’ve put in”? If so, congratulations—you’ve met the sunk ...

Many people in long-term relationships have used the same phrase to quiet thoughts of leaving: But it’s already been so long! If I leave now, all of that time and effort will go to waste. As it turns ...

A Reflection for Tuesday of the Third Week of Advent Which of the two did his father’s will? Find today’s readings here. The sunk cost fallacy is a theory that posits that we keep going down a path ...