Intellectual humility

Adam Grant pointed to How ‘Intellectual Humility’ Can Make You a Better Person which I found intriguing. We all have a tendency to overestimate how much we know — which, in turn, means that we often cling stubbornly to our beliefs while tuning out opinions different from our own. We generally believe we’re better or… Continue reading Intellectual humility

Sunk Cost Fallacy

In economics, a sunk cost is any past cost that has already been paid and cannot be recovered. For example, a business may have invested a million dollars into new hardware. This money is now gone and cannot be recovered, so it shouldn’t figure into the business’s decision making process. … from How the Sunk Cost… Continue reading Sunk Cost Fallacy