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My friends, what I have now realized is that those sunk costs had me sunk. I was mired in a morass of my own self-absorption, intent on getting and keeping...
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Should the new decision be based on past decisions? Past results? Amount of time already invested (sunk costs)?
From the song 'Please Stay' by The Drifters:
Don't go, please stay
Don't go, please stay
If I got on my knees and I pleaded with you
Not to go but to stay in my arms
Would you walk out the door like you did once before?
Or would this time be different, would you stay?
http://www.youtube.com/watch?v=NairS2nGEEw
Late night MBA jam sesh #sunkcosts #5forces #artsshowcase
GLOSSARY sunk cost fallacy
wikipedia: http://en.wikipedia.org/wiki/Sunk_costs
Rather than consider the odds that an incremental investment would produce a positive return, people tend to "throw good money after bad" and continue investing in projects with poor prospects that have already consumed significant resources. In part this is to avoid feelings of regret
Check out #5 for a great example of ignoring sunk costs (from classmate Kelsey Carlston).
Anya is live and ready to show you everything. Watch her strip, dance, and perform exclusive shows just for you. Interact in real-time and make your fantasies come true.
Free to watch • No registration required • HD streaming
