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Ever held onto something just because you’ve already spent so much money on it? 🤔 Enter the sunk cost fallacy – the trap of holding onto something simply because of past investments, instead of rationally evaluating future costs and benefits. But this isn’t just about money – it’s about time and effort too. Would a new course of action make more sense for your wallet… or your heart? #SunkCostFallacy #BehaviouralEconomics #SunkCosts #letgoandgrow 🔔 Remember to comment, like and subscribe! 📱Stay connected with us ECB Instagram: https://www.instagram.com/europeancentralbank/ ECB LinkedIn: https://www.linkedin.com/company/european-central-bank/ ECB WhatsApp: https://www.whatsapp.com/channel/0029VaN2TDTEquiHqZTiHo2v ---------------------------------------------------------- Disclaimer The views expressed in this video do not necessarily reflect those of the ECB. The information presented is: • of a general nature and not intended to address the specific circumstances of any particular individual or entity; • sometimes linked to external websites over which the ECB has no control and for which the ECB assumes no responsibility; • not intended to constitute professional or legal advice.
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