Hiking in the Alps during a thunderstorm – sunk cost fallacy in practice
Have you ever experienced a proper storm? How about a thunderstorm in the mountains? It usually starts with small rain. However, in the high mountain like the Alps, it can quickly escalate to the dangerous scenario. I continue the series of blog posts about the son and dad journey from last year. We went on a week-long trip to Europe. And today we experienced something that business language calls “sunk cost fallacy”. We were so excited and committed that it was hard to assess the real situation. Let’s roll to the full story, as the lesson learnt is significant.
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