Sunday, November 5, 2017

Sunk Costs and Groupthink

Okay, one more thought for the night.  I'm still reading The Confidence Game, and the author is talking about the disaster at the Teton Dam.  Mostly because the thought processes behind the desire to continue something once it's started are the same, whether you're talking about a con or the unwillingness to hear concerns about building a dam once you've started.  Kind of like the Sunk Costs Fallacy, except you aren't really thinking of it as sunk costs.  Just, in this case, you've already started building the thing.

Since the story of the dam reminded me of research on groupthink, I found myself wondering how closely they tie together.

That is, how much was something like the decision to launch the Challenger (and marginalizing those who disagreed, dismissing reasons to question the decision), comes from the level of investment involved in launching a shuttle. 

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