3193: The Sunk Cost Fallacy - Why People Cling to Jobs & Investments Longer Than They Should by Paula Pant

Optimal Living Daily - Personal Development and Self-Improvement

Optimal Living Daily LLC

Education, Mental Health, Self-improvement, Health & Fitness

4.6 • 3.2K Ratings

🗓️ 26 May 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3193: Dive into the psychology of financial and personal decisions with Paula Pant's insightful exploration of the sunk cost fallacy. Discover why people continue investing time, money, and effort into lost causes, and how recognizing this cognitive bias can lead to more rational choices and better life outcomes. Read along with the original article(s) here: https://affordanything.com/sunk-cost-fallacy/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi all how we doing afternoon afternoon let's get this meeting meeting meeting
0:06.0	started
0:07.0	when everyone's home erepte work mode
0:12.0	when everyone's home ee work mode prioritizes your broadband for working from home, with faster speeds in more places than anyone else.
0:18.0	So, yeah, yeah, I've got you loud and clear, clear is about.
0:21.0	This is broadband made for working from home search
0:24.2	e e. broadband powered by BT work mode with e e smart help plus to verify see ee dot
0:29.1	credit ek slash claims this is optimal living daily episode 3193, the sunk cost fallacy, the surprising reason
0:37.2	why people cling to jobs and investments longer than they should, by Paul a pant of
0:42.3	afford anything.com and I'm Justin
0:44.8	Molick
0:45.9	welcome back to the Sunday bonus episode where I share an episode from our
0:50.1	optimal network covering another topic today network covering money coming from our podcast optimal finance daily.
0:58.3	If you do enjoy this episode coming up, please do subscribe to or follow optimal finance daily.
1:03.4	Just search for that wherever you're listening to this.
1:06.0	But with that let's get right to the bonus episode and Diana's commentary
1:10.4	as we optimize your life. The sunk cost fallacy, the surprising reason why people cling to jobs and investments longer than they should by Paul a pan of a Ford
1:25.2	anything.com. Imagine that you bought a hundred dollar ticket to a ski resort in
1:31.0	Michigan. A few days later you find a $50 deal for a ski resort in Wisconsin.
1:37.0	The $50 Wisconsin deal promises better ski slopes, nicer snow, and an all-around more fun experience. On impulse, you buy that
1:46.4	ticket too. Then you learn that the two ski tickets are valid only on the same day.
1:52.4	Bummer. The tickets are non-refundable and
	...

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