The mistaken belief that if money, time, or effort that cannot be recovered has already been invested in some endeavor, more should be invested in an effort to reach the goal is called _____.

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The mistaken belief that if money, time, or effort that cannot be recovered has already been invested in some endeavor, more should be invested in an effort to reach the goal is called the sunk cost fallacy. This fallacy can lead to irrational decision-making and can cause individuals to act against their best interests.

The Mistaken Belief That If Money, Time, or Effort That