In economics, there is a principle known as the sunk cost fallacy. The idea is that when you are invested and have ownership in something, you overvalue that thing.
(A)
Sometimes, the smartest thing a person can do is quit. Although this is true, it has also become a tired and played-out argument. Sunk cost doesn’t always have to be a bad thing.
(B)
This leads people to continue on paths or pursuits that should clearly be abandoned. For example, people often remain in terrible relationships simply because they’ve invested a great deal of themselves into them. Or someone may continue pouring money into a business that is clearly a bad idea in the market.
(C)
Actually, you can leverage this human tendency to your benefit. Like someone invests a great deal of money in a personal trainer to ensure they follow through on their commitment, you, too, can invest a great deal up front to ensure you stay on the path you want to be on.
* leverage: 이용하다
