Sunk costs are those that are irretrievably
lost. You can't get them back no matter what you do. Theoretically
they should not be part of decision making. In the real world, often they
do.
If you've just spent a substantial amount of time and money inventing and promoting the device at the left, what do you do?
Sunk costs are those that are irretrievably
lost. You can't get them back no matter what you do. Theoretically
they should not be part of decision making. In the real world, often they
do.