To get things done, we tend to complete things we've invested time and energy in

Deep Dive

All Biases

Sunk Cost Fallacy

We continue investing in something because of previously invested resources (time, money, effort), regardless of future value.

Escalation of Commitment

We increase commitment to a decision despite evidence that it was wrong, especially when responsible for it.

Generation Effect

We remember information better when we generated it ourselves than when we simply read it.

Loss Aversion

We feel the pain of losing something more strongly than the pleasure of gaining something of equal value.

IKEA Effect

We place disproportionately high value on products we partially created ourselves.

Processing Difficulty Effect

We remember information better when it requires more effort to process (also called "desirable difficulty").

Unit Bias

We tend to consume a standard unit (one serving, one plate) regardless of the actual amount.

Zero-Risk Bias

We prefer to completely eliminate a small risk rather than significantly reduce a larger risk.

Disposition Effect

We sell assets that have increased in value while holding assets that have decreased in value.

Pseudocertainty Effect

We make risk-averse choices when outcomes are framed as gains but risk-seeking choices to avoid sure losses.

Endowment Effect

We value things we own more highly than things we don't, simply because we own them.

Backfire Effect

When confronted with evidence against our beliefs, we sometimes strengthen those beliefs instead of changing them.

Doubling-back Aversion

We tend to avoid returning to a previous location or state, even when retracing our steps is the most efficient path.