A Joosr Guide to… Misbehaving by Richard Thaler

think very seriously about the consequences of losing

that risk might put you much further in the hole.

you might find yourself with a sunk cost on your hands.

Before you decide to take advantage of a great deal, remember that it’s only a great deal if it is something you actually want or need

The temptation is too much.

People love a good deal so much that sometimes they buy things they don’t need

Sunk costs are very difficult for people to accept and ignore

your adult son moves off your phone plan and it saves you $20 a month, you don’t have to upgrade your data plan to keep that money in the phone budget. Put that money in savings, or do something fun instead.

She chooses to buy a higher grade of fuel at a cost that is similar to what she paid for the regular grade before.

the immediate enjoyment of smoking is too much for his willpower.