The Sunk Cost Effect

Once upon a time I took a mini- Economics class in college and mainly learned one thing. No I learned a lot but one thing stuck. The sunk cost effect. I remember it because it's all about how some people put so much into something that they can't walk away from it. Basically, they are blinded from other possibilities. So make sure that in your personal, academic, and professional life you are open to other options even if you have invested a lot.

PS. Change that major if you need to and watch your happiness increase in college hahaha

The Sunk Cost Effect in Our Lives

The sunk cost effect is an economic term which has a profound meaning in our daily lives. Have you sometimes held on to something too long just because you invested a lot in it? It could be a bad college major, a bad boy/girlfriend, a bad job. Whatever the case is. You need to get the courage to know the difference between holding on and letting go in order to make a wise decision.