The sunk cost fallacy is why people continue bad relationshi... - Richard Thaler

"The sunk cost fallacy is why people continue bad relationships and bad jobs. They've already invested so much."

Richard Thaler Relationships

Economist Psychologist American Born 1945 (age 81)

More from Richard Thaler

"Mental accounting is how people organize, evaluate, and process financial activities."

"People are not always rational. We make systematic mistakes."

"The most important thing to realize is that we are all irrational some of the time."

"Behavioral economics is the study of human choice."

"The key to a happy marriage is communication."

"Marriage is about compromise and understanding."

"Life's greatest treasures are relationships."

"Trust is a luxury I can't afford."