The sunk cost fallacy

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2024

This is the tendency to continue investing in a candidate or a hiring decision, even if it is no longer justified by the evidence or the potential returns. For example, if we have already spent a lot of time and resources interviewing a candidate, we may be more likely to overlook their shortcomings or to make excuses for their lack of qualifications. The sunk cost fallacy can cause us to make poor hiring decisions, and it can lead us to waste valuable resources on candidates who are not a good fit for the job.

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