Do you have a suit or dress in the closet that you haven’t worn for years but are reluctant to get rid of? Maybe you say, “I can’t throw that away because I paid good money for it?”. If you recognize this in yourself, then you are suffering from commitment to the sunk cost fallacy (谬论). It occurs when we feel that we have invested too much to quit. This psychological trap causes us to stick with a plan even if it no longer serves us and the costs clearly outweigh the benefits.
Arkes and Blumer conducted a survey showing that people are influenced by sunk cost fallacy in their decisions. Participants imagined spending $100 on a ski trip to Michigan and $50 on Wisconsin, realizing later they were for the same weekend. They were told Wisconsin would be more enjoyable. When asked which trip to take, 54% chose Michigan despite the reasonable choice being Wisconsin, because they had made a greater initial investment.
Sunk cost fallacy takes place when we let emotions cloud our decisions. Once we’ve invested in a choice, we feel guilt or regret if we don’t follow through. We fail to realize that past costs won’t be recovered. Instead, we base decisions on past costs, ignoring present and future costs and benefits. This may be due to loss aversion (厌恶), where losses feel worse than gains. We avoid losses, making choices based on avoiding the “loss” of our past investment instead of considering the benefits gained if we don’t continue our commitment.
No one can deny the fact that we benefit a lot from perseverance. So our society loves to emphasize perseverance. Never give up! Don’t waste. But only you know the right path for you. Sometimes walking away is the hardest choice of all. You might realize a path you’re on is no longer the right one or never was. That’s a painful realization.
【小题1】What phenomenon does the author describe at the beginning of the text?| A．People benefit from sticking with a plan. | B．People’s consumption view has changed. |
| C．People refuse to give up the past commitment. | D．People’s clothes are becoming more expensive. |
| A．To save more of the loss. | B．To appear more reasonable. |
| C．To make a greater investment. | D．To enjoy more of themselves. |
| A．When we don’t follow through our choices. |
| B．When we don’t continue our commitment. |
| C．When we stop feeling guilty and regretful. |
| D．When we make decisions based on past costs emotionally. |
| A．Favorable. | B．Objective. | C．Doubtful. | D．Unclear. |
