What role does the sunk cost fallacy play in your everyday choices?

Sunk cost is a powerful concept. Once you understand it, you will live differently. It's so often that I hear people saying: "But I have already invested so much time, ... , spent money on it, ..., put work in it." Totally irrelevant. All sunk cost. Evaluate now and look into the future. You bought a ticket to the concert but don't feel like going? Don't go! The money is already gone. Sunk cost. Why add misery to it?

Sunk cost is a different experience rather than to say concept. if milk gets bad, it becomes Yoghurt. Yoghurt is more valuable than milk. if it gets even more worse, it turns to cheese. Cheese is more valuable than both Yoghurt and milk. And if grape Juice turns sour, it transforms into wine, which is even more expensive than grape juice. Mistakes are the experiences that make you more valuable as a person. take more bigger steps ahead, with your past experience navigational map.

This is a bias that contaminates good decision making. To improve investing and life decision making you must evaluate the dilemma with fresh, open eyes and mind. Don’t let past decisions influence current ones. Keep your eye on the now and future and honestly ask yourself: is this a buy/sell investment right now with the information from the future I have at the moment?

I want to be funding for Start Agriculture Project. India ranks second worldwide in farm outputs. As per 2018, agriculture employed more than 50℅ of the Indian work force and contributed 17%–18% to country's GDP. Today and in our future also depend in Agriculture. We all Need Food. I want to Start Agriculture Project because Agriculture is the foundation of manufactures, since the productions of nature are the materials of art. It is impossible to have a healthy and sound society without a proper respect for the soil. Agriculture was the first occupation of man, and as it embraces the whole earth, it is the foundation of all other industries.

It’s important to see the whole picture. What can be considered today as a unprofitable investment may change to profitable due to macroeconomic, political or other environment changes and expectations.

The best way to manage this is to reframe the way you perceive failure. An old colleague used to say, 'there are failures, only learnings' and thankfully we live in a time where this thinking is becoming more mainstream. Whatever your project was... was the goal completion? or was it success? And how do you define success? What if you learned more about your market to reposition yourself accordingly - wasn't that value that you derived from your efforts, regardless of completion? Challenging as it is, accepting this is as much about managing our own egos as anything, and not taking the outcomes personally. It's not always easy, but there is much to gain when we can set aside our pride and stubbornness for our own good. In work and in life.