Sunk Cost Fallacy

Cognitive Control

Throwing good money after bad because you've 'already invested so much.' The tendency to continue an endeavor because of previously invested resources (time, money, effort) rather than based on its current value. What you've already spent is gone - it shouldn't affect future decisions. Example: You've held a losing position for 6 months. You keep thinking 'I've waited this long, I can't sell now.' But those 6 months are gone whether you sell or not. The only question is: what's the best decision TODAY?