Do you have a suit or dress in the closet that you haven't worn for years but are reluctant to get rid of? Maybe you say, “I can’t throw that away because I paid good money for it?” Or you have ...

Sunk costs refer to expenses that have already been incurred and cannot be recovered. In instances where sunk costs continue to influence either personal or business decisions (or both), investors may ...

Recently, Horowitz visited a large lighting store in the Indianapolis area. The front of the showroom featured sleek, modern fixtures, but tucked away in the back was a section filled with older, ...

It was a Words with Friends chat that first gave Megan Phelps-Roper pause. People have a marked tendency to cling to past investments, whether financial, social, or emotional—even when it becomes ...

Everyone makes mistakes or suffers from bad luck from time to time. But too often, people dig their heels when the tide is shifting against them, rather than getting back on course — especially when ...