Forget the Past(Britain and France) - Libly
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Never Take Everything Person...
Forget the Past(Britain and France)

Forget the Past(Britain and France)

Never Take Everything Person...
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Their thinking "we have already sacrificed so much for this war it would be a mistake to give up ".

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                                     allyNever Take Everything Person



Concord is a prime example of government deficit project. Even though both parties Britain and France had long known that the Supersonic aircraft business would never work, they continue to invest enormous sums of money in it- if only to save face. Abandoning the project would have been tantamount to admitting defeat. The sunk cost fallacy is therefore often referred to as the Concorde effect. It leads to costly, even disasters error of judgment. The Americans extended their involvement in the Vietnam War because of this. 

Their thinking "we have already sacrificed so much for this war it would be a mistake to give up ". 

We have come this far I have read so much of this book already but I have spent two years doing this course if you recognize any of these thought patterns it shows that sunk cost fallacy is at work in a corner of your brain. 
Of course, there may be good reasons to continue investing in something to finalize it but beware of doing so for the wrong reasons such as to justify nonrecoverable Investments. Rational decision making requires you to forget about the cost incurred to date. No matter how much you have already invested only your assessment of the future cost and benefits counts.

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