gettysburg sunk
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GETTYSBURGSUNK
By Theodor ToncaOctober 24, 2013
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$519,000,000,000
- Bloomberg 7/2/2013
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$311,000,000,000
- Werner Rehm, Robert Uhlaner, Andy West Taking a Longer-Term Look at M&A Value Creation, McKinsey & Co. on Finance 42, Winter 2012.
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- Kevin Voigt - Mergers Fail More Often Than Marriages, CNN May 22, 2009.
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Why??
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The Sunk Cost Fallacy
- Hal R. Arkes & C. Blumer The Psychology of Sunk Cost Organizational Behavior & Human Decision Processes 35, 1985.
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Sunk Cost, noun
A irrecoverable cost, already incurred. Independentof any event that may occur in the future.
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Sunk Cost Fallacy, noun
An individual, organization or company continuing
on with a project they have already invested time,effort and or money in, irrespective of future costs
or benefits.
i.e. Throwing good money after bad.
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Concorde Fallacy
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Vietnam War
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Almost Every Corporate Acquisition
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Battle of Gettysburg
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Tony Romo
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Fairfax Financial Re: Blackberry?
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Awareness
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Anchoring + Endowment Effect
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