Every small-businessman or woman is aware of a painful truth: You have to spend money to make money. Funds that have already been spent, whether for labor, equipment, supplies or any other aspect of ...

Have you ever encountered a subpar hotel breakfast while on holiday? You don’t really like the food choices on offer, but since you already paid for the meal as part of your booking, you force ...

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 ...

Ahab hunting down Moby Dick. Wile E. Coyote chasing the Road Runner. Learning Latin. Walking over hot coals. Standing in a ...

Many people fall victim to the “sunk cost fallacy” at some point in their lives. Maybe you have stayed at an amusement park even though it was hot and crowded, or remained at a concert even though the ...