The Sunk Cost Fallacy

Love it. Brilliantly done article.

Growing up, the sage advice I remember most from my dad was "the law of sunken treasure" and the sunk cost fallacy.

The emotions that invariably underpin...every...thing are incredible. For better or worse, they certainly taint our otherwise rationale (sense of) judgment.

And being able to most clearly draw a distinction between latent emotion and more conscious rationale gives someone an enormous edge.

Wins and losses, and the perception and power of them, respectively is so strong, that despite almost always erroneous, is accepted as a fata compli of illogic and error by even the most seasoned and expert of gamblers.