The President is managing a war that is not going well. Nevertheless, he refuses to withdraw troops, arguing that doing so would waste the billions of dollars spent and thousands of lives lost fighting the war. The President's line of reasoning illustrates:

Question

Quizplus · Accepted Answer

The President's argument is based on the sunk-cost fallacy, which refers to the tendency to continue investing in a project or decision because of the resources already invested, rather than considering the future costs and benefits. In this case, the President is ignoring the ongoing costs of the war, including the loss of lives and resources, and is instead focusing on the past costs.

The President Is Managing a War That Is Not Going