Choiceology with Katy Milkman cover image

Summit Fever

Choiceology with Katy Milkman

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How to Avoid the Sunk Cost Trap

Michael Roberto is a professor of management at Bryant University in Rhode Island. He talks about how to avoid or prevent the sunk cost trap. In an auction situation, ask yourself what's next best thing you could buy for $350? And then make sure that you don't frame the decision to go on as go no go.

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