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Survivorship Bias

Survivorship Bias is the tendency of human beings to overestimate the likelihood of success, when undertaking a new and risky business venture. This is likely to happen if you think about it, as other peoples (and businesses) successes are easy to spot publicly, whereas those who fail with a new Read more…

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Sunk Cost Fallacy

Another way of explaining Sunk Cost Fallacy, is to use the old saying  ‘ throwing good money after bad ‘. Once you have invested a lot of time and money into a project or venture, then you are less likely to abandon the project or venture. An example of this Read more…