Sunk Cost Fallacy

When I finished my computer science engineering, the conventional track for me was to go for masters in that field or settled into suitable job. But suddenly I changed my mind and decided to shift entire stream of career because of only one reason,

“I was not into it wholeheartedly”.

I don’t have any reason to hate CS engineering. I thoroughly enjoyed it, but I was just not into it. Moreover, one of the best asset i have build during my college life, Friendship. But I left engineering stream without any specific goal in mind. Just with a thought of having gap year or two to read and understand myself and life in broader pattern.

Because one thing I have observed very early in life, Once we say yes to something, there is always spiral of consequences which follows as package deal. Whether we like it or not, but the more we move forward in those directions, the harder it becomes to come out of that web.

As expected, Pseudo tendency of society has entered into Play. People were concerned about my career more than me. Apart all their pitch and narratives, one of the most prominent was this.

“You have spent so much money, time and energy into engineering, it will become a waste of all those resources.

If i am not clear and others are getting ahead (based on some arbitrary matrix), does’t mean i should sell my life much quicker due to external pressures.

Logical conclusion of this story is,

The cost i have bear for Four years can’t rationally justify the reason to pursue it for rest of my life.

This tendency of carrying on with something just because we have invested so much emotion, money, time and energy into it, is known as Sunk Cost Fallacy.

This extremely dominant fallacy of human mind prevents us to choose better options at times. My personal thought process came to a conclusion that, sunk cost is flowered from Scarcity mindset. As our mind and body is evolved for scarcity Mindset, but world we are living in is of Abundance. This is very simple and visible idea in every part of the world but very very hard to realise it.

Sunk cost is everywhere, There are people who continue doing some business and stick to their strategy, continuing the career they don’t life because they have invested so much time and effort into it. They can’t switch over to better option which has potential to produce better results.

Even in friendship, People are not able to move on from certain friends because they have invested in that friendship for longer period of time. Even if there is chance to make new friends who can change entire trajectory of their personal growth.

Our decisions should be based on its future value not what it has consumed from our life so far.

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