If you stay, you gain information about the restaurant. There’s the dollar cost of dining out. It’s actually not as easy as it looks to generate a “clean” example.
How much need we worry about excluding consequences we can’t consciously list and/or quantify?
If you stay, you gain information about the restaurant. There’s the dollar cost of dining out. It’s actually not as easy as it looks to generate a “clean” example.
How much need we worry about excluding consequences we can’t consciously list and/or quantify?
I patched this example by saying “you’re on vacation in another city”, so the value of information is mostly negligible.
But yeah, it’s still pretty hard. Also, ideally not all of our examples end up being instances of sunk-cost-fallacy.