Which of the following statements represents bad decision making?
A)I've already spent 3 years in the college so I can't drop out and go to work now.
B)I've already paid for the ticket so I might as well stay to the end.
C)I've put in so much time on this paper,I can't quit now.
D)My stock has dropped $10 a share so I can't afford to sell it now.
E)all of the above.

Question

Quizplus · Accepted Answer

All of the statements represent examples of sunk cost fallacy, where someone continues with a course of action because they have already invested time, money, or effort into it, despite evidence that it may not be the best decision moving forward. The best decision-making approach would be to evaluate each decision based on its own merits and potential outcomes, without being swayed by past investments or losses.

Which of the Following Statements Represents Bad Decision Making