Running Head: FINANCE1Sunk CostsStudents NameInstitutional AffiliationDateInstructors NameFINANCE2The sunk cost fallacy illustrates scenarios where a person can make unreasonabledecisions because they fail to consider the additional benefits that come as a result. In real life,decision making can be depicted from the way a person can continue to watch a boring film justbecause she/he had paid for it.Also, a scenario may arise when someone forces himself to eat a full plate of food in ahotel just because they had paid for it. Additionally, one may decide to paint their house withgreen paint since they already had a green color. These scenarios are examples of how sunk costscan be applied in the decision making of everyday situations.The decisions that we have made in the past may continue to affect us because we areafraid of incurring losses if we do not util ...
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