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Why do we find it hard to cut our losses?

Knowing when to cut our losses is a skill that’s important in all areas of our lives. Sandra Kanthal examines why we should learn to avoid the 'sunk cost' fallacy.

At some point in our lives, we’re all likely to make an investment, in time or money or effort, which goes wrong. But, when we know we’re in a hole, why do we find it so hard to stop digging? Realising when we should cut our losses is a decision making skill that’s important in all areas of our lives. In this Why Factor Sandra Kanthal examines why we should all learn how to avoid the 'sunk cost' fallacy.

Guests:

Spencer Christian - author, You Bet Your Life
Wandi Bruine de Bruin - professor of behavioural decision making, Leeds University Business School
Dean Yeong - Malaysian writer and entrepreneur
Lior Sheffer – post-doctoral fellow, Department of Political Science, University of Toronto
Christopher Olivola - assistant professor of marketing, Tepper School of Business, Carnegie Mellon University
Claire Gregory – co-founder, The Female Fitness Academy

Presented and produced by Sandra Kanthal
Editor: Richard Knight

Available now

24 minutes

Last on

Tue 31 Mar 2020 06:32GMT

Broadcasts

  • Mon 6 May 2019 12:32GMT
  • Mon 6 May 2019 17:06GMT
  • Mon 6 May 2019 21:06GMT
  • Tue 7 May 2019 01:32GMT
  • Mon 13 May 2019 08:06GMT
  • Sun 29 Mar 2020 04:32GMT
  • Mon 30 Mar 2020 02:06GMT
  • Mon 30 Mar 2020 03:06GMT
  • Mon 30 Mar 2020 05:32GMT
  • Mon 30 Mar 2020 08:32GMT
  • Mon 30 Mar 2020 09:06GMT
  • Mon 30 Mar 2020 12:32GMT
  • Mon 30 Mar 2020 17:06GMT
  • Mon 30 Mar 2020 21:06GMT
  • Tue 31 Mar 2020 06:32GMT

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