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What (who) is sunk cost - definition
Sunk cost
![The sunk cost fallacy has also been called the "[[Concorde]] fallacy": the British and French governments took their past expenses on the costly supersonic jet as a rationale for continuing the project, as opposed to "cutting their losses".](https://commons.wikimedia.org/wiki/Special:FilePath/Concorde 216 (G-BOAF) last flight.jpg?width=200 "The sunk cost fallacy has also been called the \"[[Concorde]] fallacy\": the British and French governments took their past expenses on the costly supersonic jet as a rationale for continuing the project, as opposed to \"cutting their losses\".")
![[[Daniel Kahneman]], an Israeli psychologist known for his work in behavioral economics and studies of rationality in economics.](https://commons.wikimedia.org/wiki/Special:FilePath/Daniel Kahneman (3283955327) (cropped).jpg?width=200 "[[Daniel Kahneman]], an Israeli psychologist known for his work in behavioral economics and studies of rationality in economics.")
COST THAT HAS ALREADY BEEN INCURRED AND CANNOT BE RECOVERED
Sunk cost fallacy; Concorde fallacy; Concorde effect; Committed Costs; Bygones principle; Bygones Principle; Fallacy of sunk costs; Sunk cost dilemma; Sunk-cost fallacy; Sunk cost effect; Concorde Fallacy; Sunk investments; Sunk Cost Fallacy; Sunk costs; Sunken cost; Sunken cost fallacy; Plan continuation bias; Get-there-itis; Press-on-itis; Sunk Costs; Sunk-cost bias
In economics and business decision-making, a sunk cost (also known as retrospective 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.
Cost, Texas
HUMAN SETTLEMENT IN TEXAS, UNITED STATES OF AMERICA
Cost, TX
Cost is an unincorporated community in Gonzales County, Texas, United States. According to the Handbook of Texas, the community had an estimated population 62 in 2000.
Cost reduction
PROCESS USED BY COMPANIES TO REDUCE THEIR COSTS AND INCREASE THEIR PROFITS
Cost-cutting; Cost cutting; Cost saving; Cost-saving
Cost reduction is the process used by companies to reduce their costs and increase their profits. Depending on a company’s services or products, the strategies can vary.
Examples of use of sunk cost
1. And the investment, once made, becomes an anchor; a sunk cost, as economists put it.
2. Lyapunova said that while she pressed hard to get a cash advance from the airline right away, and was unable to get that, she has since given up and is not filling out any reimbursement forms, considering the extra money she had to spend a sunk cost.
3. Sunk cost figured in Whirlpool‘s decision to ship front–loader washing machines to the United States from its factory in Schorndorf, Germany, which Whirlpool acquired in 1''1 with the purchase of the appliance operations of Philips N.V. for more than $1 billion.