Essay
Jabari has had his car for 10 years and put a lot of money into repairs. His mechanic has broken the news to him that he needs a new engine, a very expensive repair, and suggests that Jabari sell the car. Jabari argues that he has put too much money into the car to sell it now and that the mechanic should replace the engine. What systematic bias is Jabari exhibiting?
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Jabari is exhibiting sunk cost fallacy. ...View Answer
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