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This psychological trap is named after of the supersonic Concorde aircraft takes. The development of this aircraft was not canceled because of the large amount of money spent,
This psychological trap is named after of the supersonic Concorde aircraft takes. The development of this aircraft was not canceled because of the large amount of money spent, despite the excessive costs and problems that occurred during the project.
Conclusion? Concorde is a big problem in the long run. commercial failure happened. Why do people or institutions fall into this misconception? And how can it be prevented?
Concorde fallacy, It’s about realizing that a project or relationship has failed, but not wanting to go down that path again because of the huge investments made before.
For example, a film producer starts a project Even though he has spent millions of dollars Although he knew the film would fail at the box office, he did not give up on completing the film. Because so much time and money had already been invested in it.
Think about a relationship gone bad. Many people have spent years and invested a lot emotionally in the relationship. They know it’s hard to leave, but… “I’ve wasted so much time, it would be a shame if I left now.” they think. However, this only causes more unhappiness.
Another example can come from business. A company has allocated a large budget to a project. Even though the project shows that it will fail money and effort spent They don’t cancel the project if they think about it. Isn’t it more damage and waste of time?
emotional attachment, Although the fear of failure, the idea of justifying others, and falling into vague judgments lead us to this error, there are some methods to escape from it.
The best way to avoid the Concorde Fallacy is; Instead of focusing on the money, time or effort it takes, estimating future possibilities. It is necessary to consider what the current situation is and what the most logical step forward would be.
If there are strong signs that a project will fail, stop rather than continue. reassess the situation It will be the best option.
The Concorde Fallacy is a trap that many people and organizations fall into. By understanding this fallacy, rational decisions you can get it.
The main lesson the Concorde Fallacy teaches is: look ahead and that it is wisdom, not weakness, to step back when necessary.
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Source: Web Tekno
Ashley Johnson is a science writer for “Div Bracket”. With a background in the natural sciences and a passion for exploring the mysteries of the universe, she provides in-depth coverage of the latest scientific developments.
