It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

Explore the sunk cost dilemma, a key financial concept impacting decisions on investing in failing projects. Learn how to manage it with real-world examples and insights.

Sunk costs are unrecoverable and should not influence future spending decisions. Not all fixed costs are sunk; some can be recouped, like equipment resale. Sunk costs can result from both everyday ...

Sales is all about the art of closing the deal. Behind the curtain, that means a lot of patience, persuasion and persistence. But what if that determination hurts more than it helps? Today’s economic ...