LEVERAGING SUNK COST FALLACY FOR BENEFIT 15 Strategic Utilisation of Sunk Cost Fallacy: Turning Challenges into Opportunities Even though Sunk Cost Fallacy is like buying a bad ice cream cone and eating it all, even if it doesn't taste good, just because you already paid for it. I want to show you different ways you can leverage the effect of sunk cost fallacy to a benefit. See you at the last point. 1.Resource Misallocation : Once misallocated resources (funds) are discovered, entities can strategically reallocate resources to high-impact sectors, perform a thorough assessment of their assets, and uncover wasteful allocations. 2. Budget Overruns: Recognizing budget overruns can encourage improved financial planning, tighter fiscal control, and optimization of spending, ultimately improving financial discipline and efficient resource utilisation. 3. Diminished Profitability: Businesses and individuals can improve financial sustainability and performance by implementing cost-...