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 ...

Learn what the sunk cost fallacy is, why people stick with bad decisions, and how to recognize this bias in money, work, ...

As some Republicans express buyer's remorse about Donald Trump's selection of J.D. Vance as the “worst choice” for vice president and Joe Biden ditches his stubbornness about staying in the 2024 ...

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 ...

Ducharme is a contributor to TIME. Elizabeth Renstrom for TIME If you’ve ever let unworn clothes clutter your closet just because they were expensive, or followed through on plans you were dreading ...

Joe Biden’s self-inflicted electoral crisis is a classic case study in the “sunk cost fallacy.” As Vice President Kamala Harris and party leaders pour resources into the president’s flailing campaign, ...

Have you continued with a project long after you should have abandoned it? Persevered with a relationship even after the point of no return? Dragged yourself to an event in miserable weather just ...

John T. Palter is the managing member at Palter Sims Martinez PLLC in Dallas. Mr. Palter may be contacted at [email protected]. To continue reading this content ...