Why Do We Go All In on Lost Causes?

The video explains the sunk cost fallacy, where individuals continue investing in a decision due to prior investments, despite it being irrational. It discusses rational decision-making, escalation of commitment, and various theories like self-justification and loss aversion. The video also provides strategies to avoid sunk costs, emphasizing the importance of evaluating decisions without bias.

What new insight or understanding did you gain from this video?