Sunk Cost Fallacy

"WHY CHANGE NOW? WE'VE ALREADY

Sunk-cost fallacy

• Sunk-cost fallacy is the idea that past expenditure on a project will influence the decision whether to continue or terminate the project.
• Instead the decision should be based on future costs and benefits alone
• Example: Feasibility study

Stuck with the wrong decision

• money already spent
• pride issues
• self-interest
• losing face
• finish what you began
• being unsure

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- coding -
"Why reorganize and restart coding, I've already written so much"

- costing -
"I'll go with a repair and an upgrade, who needs a new system? We're already familiar with the old one."

- endowed progress -
"The sign up took so much effort, I might as well fully utilize it."

principles and techniques

• consistency
• better and fewer people
• correctness
• extendibility
• using phased life-cycle plan

Karma is REAL. What goes around comes around. Unless something's change.

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• http://www.hroot.com/upload/2010/2/10132616828.jpg
• http://15114-presscdn-0-56.pagely.netdna-cdn.com/wp-content/uploads/2016/01...
• http://images.slideplayer.com/21/6326232/slides/slide_8.jpg
• http://ieeexplore.ieee.org/xpl/login.jsp?tp=&arnumber=1553537&url=http%3A%2...
• https://en.wikipedia.org/wiki/Decision-making
• https://blogs.uw.edu/ajko/2010/12/28/decision-making-in-software-engineerin...
• http://arxiv.org/ftp/arxiv/papers/1110/1110.2096.pdf