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" Why would intelligent, capable British and French government officials continue to invest in what was clearly a losing proposition for so long? One reason is a very common psychological phenomenon called “sunk-cost bias.” Sunk-cost bias is the tendency to continue to invest time, money, or energy into something we know is a losing proposition simply because we have already incurred, or sunk, a cost that cannot be recouped. But of course this can easily become a vicious cycle: the more we invest, the more determined we become to see it through and see our investment pay off. The more we invest in something, the harder it is to let go. The sunk costs for developing and building the Concorde were around $1 billion. Yet the more money the British and French governments poured into it, the harder it was to walk away.3 Individuals are equally vulnerable to sunk-cost bias. It explains why we’ll continue to sit through a terrible movie because we’ve already paid the price of a ticket. It explains why we continue to pour money into a home renovation that never seems to near completion. It explains why we’ll continue to wait for a bus or a subway train that never comes instead of hailing a cab, and it explains why we invest in toxic relationships even when our efforts only make things worse. Examples "
― Greg McKeown , Essentialism: The Disciplined Pursuit of Less
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" Clayton Christensen, the Harvard business professor and author of The Innovator’s Dilemma, was once asked to make just such a sacrifice. At the time, he was working for a management consulting firm, and one of the partners came to him and told him he needed to come in on Saturday to help work on a project. Clay simply responded: “Oh, I am so sorry. I have made the commitment that every Saturday is a day to be with my wife and children.” The partner, displeased, stormed off, but later he returned and he said: “Clay, fine. I have talked with everyone on the team and they said they will come in on Sunday instead. So I will expect you to be there.” Clay sighed and said: “I appreciate you trying to do that. But Sunday will not work. I have given Sunday to God and so I won’t be able to come in.” If the partner was frustrated before, he was much more so now. Still, Clay was not fired for standing his ground, and while his choice was not popular in the moment, ultimately he was respected for it. The boundaries paid off. "
― Greg McKeown , Essentialism: The Disciplined Pursuit of Less