I like to call it a Markov Process (a maths term for a system where the past doesn’t matter, only the present (like flipping a coin, or roulette)), but it basically boils down to the same thing

@Gabrielle:

I love that picture

To be honest though, people who stick with common sense and ignore counter-intuitive evidence (especially in science) are equally annoying.

@Zoli:

I never realized you can apply the term “sunk costs” to the future as well! Brilliant!

To stay with the car example..

Well, until just recently (april 2008) my family had an old wreck back from ’89 and we spent hundreds of bucks on repair costs and insane amounts of benzine, so I can relate to what sunk costs are.

I think we spent the price of some quite good cars (and my long-awaited drumset) until we realized that repairing that garbage leads nowhere and buying a new vehicle is a much better idea.

When talking of sunk costs, you not only need to look at what’s been already spent, but you can reflect at what you are going to “sink” in the future if you don’t stop now.

Take care,
Zoli
.-= Zoli Cserei´s last blog ..The Naked Truth About Personal Development =-.

It’s OK to change your mind. It doesn’t make you lok stupid. It’s not wishy-washy or unreliable, it’s just common sense.

http://www.artforthemasses.us/gallaria/GalleryImages/drawn/common_sense_god_damn_super_power.jpg

I think I’d like to tattoo point #3 on someone’s forehead.

Keep up the great work your’e doing