The following items are tagged sunk costs.
Deepak Malhotra is a Professor in the Negotiations, Organizations, and Markets Unit at the Harvard Business School. He teaches Negotiation in a wide variety of executive programs including the Advanced Management Program (AMP), the Owner/President Management Program (OPM), Changing the Game, Strategic Negotiation, and Families in Business.
Think about what your house, condominium, or some other valuable asset might be worth in today’s market. Did the price you paid for it affect your answer?
“Ignore sunk costs,” accounting professors and economists tell us. The amount of money and effort we’ve invested in the past, they say, is irrelevant to our future investments.
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Business Negotiations
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