Writing this in the week prior to my mid-sems, is quite the daring and reckless thing to do — I should use this time and brain capacity to study, but the chance of that happening is about as slim as an aluminum foil. So here we are. :)

A while back, I watched this C-Drama — I'm addicted to them, but my Mandarin began from there, so none of it is in vain; shush! — wherein, I came across this very thought-provoking quote, that one of the characters said:

“你坚持一件事情是因为事情值得坚持，还是因为坚持值得坚持？”
(Nǐ jiānchí yī jiàn shìqíng shì yīnwéi shìqíng zhídé jiānchí, háishì yīnwèi jiānchí zhídé jiānchí?)

What it means is, "When you persist in something, do you persist because said thing is worth persisting in, or, because your persistence thus far is?"

And immediately it hit — this was Sunk Cost Fallacy! One of my most favorite concepts in Behavioral Econ. It's when someone refuses to abandon a strategy only because of the sheer amount of investment they've done in it so far, despite it being ample clear that abandonment would be much more beneficial.

Or, as my Principles of Econ prof had explained it to us — hands-down the most relatable explanation to this theory — sunk cost fallacy is when you keep waiting for your friend at a cafe, even after they haven't shown up for the past hour, and it's very obvious that they aren't coming; only because abhi itna ruke hai, to aur thoda rukte hai, kya pata aa gaya to?

Initially, I thought, after that momentary happiness I felt about just recognizing the concept instantly, without it having any economic context, I would forget all about it. And I did — for a brief while.

But, that night — at 2 am (not) — this quote came back to me, and got me thinking instead of dozing. Because, it had a lot of truth to it, and in many ways, I could perfectly resonate.

How many times have we persisted just because 'abhi tak itna kiya hai, wo sab bhi waste jayega'? How many times have we continued doing something only because we've been doing it for so long it almost feels like a duty more than choice?

I wonder why we don't let go? 'Cause if it doesn't please you anymore, the logical thing would be to leave it at that, and move on. I wonder if it's because we lack the courage to let go? Or because though majority of it lost its appeal for us, a part of it still calls to us in some way? Is it because it's a comfort-zone, and there's a sense of familiarity? Or is it because we're scared, that if we let this go, what if there's no other?

The best part of this piece is, it's my midnight musing put into words. So, effectively...I also have no answers; only questions — questions that I, am leaving you with (to lose tonight's sleep over) — thank me later! :)

Is there, truly, a sunk cost fallacy to persistence?

~ r.a.w

P.S.: I absolutely love how this whole "sunk cost fallacy" concept just doesn't apply to studies; none of the 'kiya hai to aur kar lete hai' nonsense there — very rational consumer-y (if you know what I mean ;) )

My subject's omnipresent, y'all, hehe. 🥰