RE: The lies we tell ourselves - the sunk cost fallacy

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The lies we tell ourselves - the sunk cost fallacy

in psychology •  8 years ago 

Very true. This sunk cost fallacy can get us into a lot of trouble in cryptocurrency investing and trading too.

It is also one of the reasons that gamblers can get themselves into big trouble as well. "I lost so much already - I have to keep on playing to get it back" - this leads to ever increasing losses and makes a small problem into a huge one.

psychology
8 years ago by

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      ·  8 years ago 

    Gamblers keep on playing despite losing because they think that they can't continue losing and so they wait for reversal in the losing situation

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        ·  8 years ago 

      Yes it is part of the same thinking.

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