Sunk cost fallacy


A few weeks ago I arranged a short weekend trip to Austria to meet a good Slovak friend of mine.

As always during the summer-season, hotels are expensive.

Occasionally you get special offers with a little less price though, with the disadvantage of charging your credit card immediately and refund of your money is not possible.

Two days before the meeting with all the expenses paid, my friend told me that it is not possible to come to Austria during the weekend (this was not my friend’s fault).

And …



In the first half of 2019, I spent four months unpaid vacation in a foreign city five hundred kilometers away from my hometown Nuremberg.1

1 if you are interested in details about this venture, here is the link

Since I traveled via train to my new ready-furnished apartment, there was no way to carry a big set of belongings.

So the last day before I left Germany, I hauled scores of crammed cardboard boxes into the cellar compartments – my subtenants were waiting already and about to move …