The Impact of Sunk Cost Bias on Decision-making in Leadership

How can celebrating failure make us more successful? Tenured Harvard Professor and former Chief Decision Scientist in the U.S. Navy, Dr. Jennifer Lerner, joins your host, Executive Director of the Alliance for Decision Education, Dr. Joe Sweeney, to discuss why most organizations reward leaders who continue investing time and money into projects that are underperforming and how to break this pattern. She also shares how leaders can terminate an initiative while maintaining the confidence of their team, and how throwing “failure parties” may be the key to success. Jenn also shares a surprising insight about how feeling angry can make us unrealistically optimistic.