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    Sunk Cost: Unlocking the Power of Past Investments, Mastering Sunk Costs for Better Decision-Making
    Sunk Cost: Unlocking the Power of Past Investments, Mastering Sunk Costs for Better Decision-Making
    Sunk Cost: Unlocking the Power of Past Investments, Mastering Sunk Costs for Better Decision-Making
    Ebook249 pages2 hours

    Sunk Cost: Unlocking the Power of Past Investments, Mastering Sunk Costs for Better Decision-Making

    By Fouad Sabry

    ()

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    About this ebook

    What is Sunk Cost


    In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties.


    How you will benefit


    (I) Insights, and validations about the following topics:


    Chapter 1: Sunk cost


    Chapter 2: Cognitive bias


    Chapter 3: Daniel Kahneman


    Chapter 4: Amos Tversky


    Chapter 5: Behavioral economics


    Chapter 6: Prospect theory


    Chapter 7: Supply and demand


    Chapter 8: Managerial economics


    Chapter 9: Loss aversion


    Chapter 10: Status quo bias


    Chapter 11: Endowment effect


    Chapter 12: Richard Thaler


    Chapter 13: Planning fallacy


    Chapter 14: Mental accounting


    Chapter 15: Escalation of commitment


    Chapter 16: Disposition effect


    Chapter 17: Reference class forecasting


    Chapter 18: Heuristic (psychology)


    Chapter 19: Thinking, Fast and Slow


    Chapter 20: Cognitive bias mitigation


    Chapter 21: David Gal


    (II) Answering the public top questions about sunk cost.


    (III) Real world examples for the usage of sunk cost in many fields.


    Who this book is for


    Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Sunk Cost.

    LanguageEnglish
    PublisherOne Billion Knowledgeable
    Release dateMar 30, 2024
    Sunk Cost: Unlocking the Power of Past Investments, Mastering Sunk Costs for Better Decision-Making

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