[Link] “Proxy measures, sunk costs, and Chesterton's fence”, or: the sunk cost heuristic
Thought this post might be of interest to LW: Proxy measures, sunk costs, and Chesterton's fence. To summarize: Previous costs are a proxy measure for previous estimates of value, which may have information current estimates of value do not; therefore acting according to the sunk cost fallacy is not necessarily...