Sunk Cost Fallacy and hoarding with Dr Jan Eppingstall of Stuffology

The Sunk Cost Fallacy is a cognitive bias that sees us continuing a behaviour despite evidence that it's not effective because we have previously invested significant resources, time, money and / or effort. And if we step away from our investment, it will become a loss. For hoarders, we see this manifest as ' I've kept it this long, I'd better keep hold of it. Or I paid so much for it, I’d better keep it.'

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