No. #118
Sunk Cost Fallacy
- Commitment to Past Decisions
The sunk cost fallacy is the tendency to continue an endeavor once an investment in money, effort, or time has been made, leading to continued investment in a losing proposition rather than cutting losses. This can affect how users interact with products or services, particularly in cases where they've invested significant resources.
Read more on WikipediaProduct example
Users might continue using a subscription service they no longer enjoy or find useful simply because they've already paid for it.
Empathy tips
Awareness and Decision Making
Promote awareness about the sunk cost fallacy and encourage rational decision-making.
Easy Exit Options
Provide easy options for users to change or exit commitments without feeling trapped by past investments.
Reminders of Current Value
Remind users of the current value and benefits of the service or product.
Encourage Periodic Reviews
Encourage users to periodically review their engagements and subscriptions to assess their current value.
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