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 ...

Do you have a suit or dress in the closet that you haven't worn for years but are reluctant to get rid of? Maybe you say, “I can’t throw that away because I paid good money for it?” Or you have ...

Berlin's new airport was supposed to open in 2011 with a budget of 2 billion euros. Instead, it finally opened in 2020 after costing over 6 billion euros. The project was plagued with problems from ...