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  • 6 Logical Fallacies That Cost You Money Every Day Cracked

    Jan 19, 2010 Well, that's left us with a brain that's really worried about making sure we don't waste money we've already spent, or as it's known in the field of This is what's known as the sunk cost fallacy: a mechanism in your brain that tells you to spend money on something, simply because you've already spent 

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  • Fallacies The Writing Center

    It is particularly easy to slip up and commit a fallacy when you have strong feelings about your topicif a conclusion seems obvious to you, you're more likely to just assume that it is true and to be careless with your evidence. To help you see how people commonly make this mistake, this handout uses a number of 

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  • The Sunk Cost Fallacy You Are Not So Smart

    Mar 25, 2011 The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: If you've experienced a version of any of these, congratulations, you fell victim to the sunk cost fallacy. That's the fallacy at work, because the money is gone no matter what.

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  • Escalation of commitment Wikipedia

    Economists and behavioral scientists use a related term, sunkcost fallacy, to describe the justifiion of increased investment of money, time, lives, etc. in a decision, based on the cumulative prior investment ("sunk cost") despite new evidence suggesting that the cost, beginning immediately, of continuing the decision 

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  • 15 Logical Fallacies You Should Know Before Getting Into a Debate

    Arm yourself with an understanding of these 15 common logical fallacies and become a master debater! It can save you time, money, and personal dignity. Formal fallacies are breakdowns in how you say . Straw man fallacies are a cheap and easy way to make one's position look stronger than it is. Using this fallacy 

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  • Logical Fallacies Handlist Cn

    When readers detect them, these logical fallacies backfire by making the audience think the writer is (a) unintelligent or (b) deceptive. It is important . The members of the student group then immediately move on in the argument, illustrating that spending money on a useless course is something nobody wants. Yes, we all 

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  • 15 Logical Fallacies You Should Know Before Getting Into a Debate

    Arm yourself with an understanding of these 15 common logical fallacies and become a master debater! It can save you time, money, and personal dignity. Formal fallacies are breakdowns in how you say . Straw man fallacies are a cheap and easy way to make one's position look stronger than it is. Using this fallacy 

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  • The BitcoinCryptocurrency Fallacy Forbes

    Jan 11, 2018 In accordance with Carl Menger's subjective theory of value, the market prices of "cryptocurrencies" still will depend on how much value individuals choose to attach to it. Bitcoin and the others still have the speculative potential to produce mindboggling profits.

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  • Fallacies

    money or at least more money than the other alternatives. This seems wrong to me! What do you think? Barney. I think you haven't examined this fully. You call these women materialistic because they want men with money, but you don't call the men materialistic for making money. It's not as though these guys are doing 

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  • 6 Logical Fallacies That Cost You Money Every Day Cracked

    Jan 19, 2010 Well, that's left us with a brain that's really worried about making sure we don't waste money we've already spent, or as it's known in the field of This is what's known as the sunk cost fallacy: a mechanism in your brain that tells you to spend money on something, simply because you've already spent 

    Online
  • Informal Fallacies Principles of Public Speaking Lumen Learning

    The ad hominem fallacy occurs when we shift our focus from the premises and conclusions of the argument and focus instead on the individual making the argument. An easy . Therefore, Brenda Barnes, CEO of the Sara Lee company, makes less money than the male delivery drivers who work for the company. Common 

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  • Your logical fallacy is strawman

    argument to make it easier to attack. By exaggerating, misrepresenting, or just completely fabriing someone's argument, it's much easier to present your own position as being reasonable, but this kind of dishonesty serves to undermine honest rational debate. Example: After Will said that we should put more money into 

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  • Sunk cost fallacy Behavioraleconomics The BE Hub

    Definition of sunk cost fallacy, a key concept in behavioral economics. Individuals commit the sunk cost fallacy when they continue a behavior or endeavor as a result of previously invested resources (time, money or effort) (Arkes & Blumer, 1985). This fallacy, which is related to Journal of Behavioral Decision Making.

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  • SunkCost Fallacy Logically Fallacious

    Explanation: What this person does not realize is that moving forward will most likely result in the loss of much more time and money. This person is thinking former would not be fallacious. Tip: Is there any part of your life where you continue to make bad investments because you fear to lose what was already invested?

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  • Why investing with "house money" can make you broke Smarter

    Sep 23, 2014 It may make you feel better about your losses to say that you only lost back the house's money, but that's not really true. This is mental accounting at work. At any time, you are free to stand up, collect your chips and cash out. That $10,000 in winnings is your money, not the house's. investinghousemoney.

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  • How the Sunk Cost Fallacy Costs You Money Avidian Technologies

    May 4, 2015 The sunk cost fallacy is simple: once someone has spent something unrecoverable, one should avoid throwing more after it in an attempt to "honor the cost" or "try to make the best of it" if the potential benefits outweigh the new cost. In everyday life, trying to repair an old car can often fall into this egory.

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  • The "Economic False Dilemma" logical fallacy The Thought Stash

    Jan 10, 2012 OK, here goes then. Let's start with the "economic false dilemma" fallacy. You make a perfectly reasonable point, which is that if we stopped spending money on the LHC, it wouldn't necessarily get spent on one of the examples I've given as being more worthy. It might get spent on something like bigger 

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  • CogBlog A Cognitive Psychology Blog » Throwing good money

    Apr 21, 2017 You are falling victim to sunkcost fallacy. This cognitive bias refers to the act of making future decisions based on past investments. For example, when you have trouble throwing away those old clothes you are thinking to yourself, "what a waste to throw away these clothes I've spent all this money on," 

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  • 7 Fallacies of Economics Foundation for Economic Eduion

    Apr 1, 1981 This suggests a widespread recognition of the fallacy of composition, yet it is a fact that the error still abounds in many places. The good economist neither sees the trees and ignores the forest nor sees the forest and ignores the trees he is conscious of the entire "picture." 3. The fallacy of "money is wealth.".

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  • The Sunk Cost Fallacy You Are Not So Smart

    Mar 25, 2011 The Misconception: You make rational decisions based on the future value of objects, investments and experiences. The Truth: If you've experienced a version of any of these, congratulations, you fell victim to the sunk cost fallacy. That's the fallacy at work, because the money is gone no matter what.

    Online
  • 15 Common Logical Fallacies and How to Spot Them HubSpot Blog

    Apr 11, 2017 This fallacy occurs when your opponent oversimplifies or misrepresents your argument (i.e., setting up a "straw man") to make it easier to attack or refute. Instead of fully Lola: You're saying we should throw our money away on external resources instead of building up our inhouse design team?

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  • Argumentum ad Aurum: 'Follow the Money' Fallacy American

    Sep 8, 2016 (I wish I was a shill I'd be making a lot more money than I am now! Monsanto, you're reading this, right?) Why does the "follow the money" argument fail so miserably? There are three major reasons. First, everybody has to get their money from somebody. Unless you're the Fed, you don't get to create your 

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  • Six Common Fallacies

    Two Fallacies of Formulation: Straw Person, False Alternatives. Two of the most common mistakes people make in formulating their reasoning are: (1) misrepresenting views they want to refute (2) misrepresenting the nature of the problem they are addressing. The first mistake is traditionally called the Straw Person Fallacy.

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  • Fallacies Internet Encyclopedia of Philosophy

    Finally, yet another theory of fallacy says a fallacy is a failure to provide adequate proof for a belief, the failure being disguised to make the proof look adequate. .. The Fallacy of Appeal to Money uses the error of supposing that, if something costs a great deal of money, then it must be better, or supposing that if someone 

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  • 8 Examples of "Mental Accounting" and How to Avoid Them

    Feb 7, 2017 Here are eight examples of mental accounting fallacies and how you can avoid them by simple planning and understanding. putting money somewhere that it was likely to be lost, and that no amount of mental maneuvering would make this an acceptable fate for any amount of money in your possession.

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  • Entrepreneursâ"Donâ™t Make This Common Behavioral Mistake

    Business schools have a saying about sunk cost fallacy, âœThrowing good money after bad.â There are ways to avoid this behavior.

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  • The Cognitive Biases That Lead to Bad Money Decisions

    May 19, 2016 There are some subtle ways sunkcost fallacy sneaks into your everyday thinking, and it often leads to bad shopping decisions. Here are a few of . In some cases, paying off a car might make sense (some of our savvy readers have pointed out that interest rates are so low, they invest their money instead).

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  • Sunk cost Wikipedia

    In economics and business decisionmaking, a sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs, which are future costs that may be incurred or changed if an action is taken. In that regard, both retrospective and prospective costs could 

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  • SunkCost Fallacy Logically Fallacious

    Explanation: What this person does not realize is that moving forward will most likely result in the loss of much more time and money. This person is thinking former would not be fallacious. Tip: Is there any part of your life where you continue to make bad investments because you fear to lose what was already invested?

    Online
  • An Addition to the List of Logical Fallacies Skeptoid

    Mar 23, 2013 This week, I ran across an old classic argument the antivaccine people use as a reason not to get vaccines. It takes various forms in how it is presented, but the premise surrounds the fact there are companies and people that make money from vaccines, thus they are inherently evil. In some cases, the 

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