Avoid the Sunk Cost Trap: Know When to Cut Losses and Move On
Episode 370: Beyond the Concorde Fallacy
🔗 Read the full article here: https://smartkeys.org/sunk-cost/
In this episode of the SmartKeys podcast, we tackle one of the most pervasive cognitive traps in leadership and business management: the sunk cost fallacy. Whether it is an underperforming factory, a stalled software implementation, or an expensive AI prototype that failed to move the needle, teams often pour millions more into failing initiatives simply to justify past expenditures.
Based on the 2026 strategic guide by Felix Römer, we explore the economics and psychology behind irrational…
The skinny
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