Authors
Ryan Doody
Brown University
Abstract
Business and Economic textbooks warn against committing the Sunk Cost Fallacy: you, rationally, shouldn't let unrecoverable costs influence your current decisions. In this paper, I argue that this isn't, in general, correct. Sometimes it's perfectly reasonable to wish to carry on with a project because of the resources you've already sunk into it. The reason? Given that we're social creatures, it's not unreasonable to care about wanting to act in such a way so that a plausible story can be told about you according to which your diachronic behavior doesn't reveal that you've suffered, what I will call, diachronic misfortune. Acting so as to hide that you've suffered diachronic misfortune involves striving to make yourself easily understood while disguising any shortcomings that might damage your reputation as a desirable teammate. And making yourself easily understood to others while hiding your flaws will, sometimes, put pressure on you to honor sunk costs.
Keywords rationality  philosophy of economics  narrative  sunk costs
Categories (categorize this paper)
Reprint years 2019, 2020
DOI 10.3998/ergo.12405314.0006.040
Options
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

PhilArchive copy

 PhilArchive page | Other versions
External links

Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library

References found in this work BETA

On What Matters: Two-Volume Set.Derek Parfit - 2011 - Oxford University Press.
Intention.G. E. M. Anscombe - 1957 - Harvard University Press.
Intention, Plans, and Practical Reason.Michael Bratman - 1987 - Cambridge: Cambridge, MA: Harvard University Press.
Actions, Reasons, and Causes.Donald Davidson - 1963 - Journal of Philosophy 60 (23):685.

View all 24 references / Add more references

Citations of this work BETA

Subjective Ought.Jennifer Rose Carr - 2015 - Ergo: An Open Access Journal of Philosophy 2.

Add more citations

Similar books and articles

The One Fallacy Theory.Lawrence H. Powers - 1995 - Informal Logic 17 (2).
The Naturalistic Fallacy.Julia Tanner - 2006 - Richmond Journal of Philosophy 13.
The Lord Scroop Fallacy.Herman E. Stark - 2000 - Informal Logic 20 (3).
How the Fallacy of Accident Got Its Name.Allan Bäck - 2015 - Vivarium 53 (2-4):142-169.

Analytics

Added to PP index
2020-04-28

Total views
505 ( #17,286 of 2,498,779 )

Recent downloads (6 months)
125 ( #5,322 of 2,498,779 )

How can I increase my downloads?

Downloads

My notes