"Sunk costs fallacy is analogous to "that's the way we've always done it"
So freaking what!
Working for the federal government there is a near incapable mindset to say, "hey money spent doesn't matter, its sunk costs". Changing course on a big scale also can lead to bad press about money wasted. This is completely foreign and impossible to deal with, especially since the supporting structure to perform work also do not react well to change. Hey mid contract we found a better way to do X, well to bad because a contract mod will take beyond the end of the contract to get done, so plug away on the lesser solution.
Generally if its purely a dollar thing, the economics of sunk costs in terms of dollars can be worked around, but sunk costs of peoples time and passion are another thing. We might get more dollars, getting back peoples time ain't gonna happen. People are funny like that, time too.
As a fan of economics and software engineering, nope no story, intentionally ignore all arguments of sunk costs. P*ss*d of a boss or two along the way. Made many a non fan for people who say "bc that's the way we have always done it"
"This is the way we've always done it" and "we don't need automated tests. We've used the same scripts for 20 years!" are my two pet peeves in doing government work...
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"Sunk costs fallacy is analogous to "that's the way we've always done it"
So freaking what!
Working for the federal government there is a near incapable mindset to say, "hey money spent doesn't matter, its sunk costs". Changing course on a big scale also can lead to bad press about money wasted. This is completely foreign and impossible to deal with, especially since the supporting structure to perform work also do not react well to change. Hey mid contract we found a better way to do X, well to bad because a contract mod will take beyond the end of the contract to get done, so plug away on the lesser solution.
Generally if its purely a dollar thing, the economics of sunk costs in terms of dollars can be worked around, but sunk costs of peoples time and passion are another thing. We might get more dollars, getting back peoples time ain't gonna happen. People are funny like that, time too.
As a fan of economics and software engineering, nope no story, intentionally ignore all arguments of sunk costs. P*ss*d of a boss or two along the way. Made many a non fan for people who say "bc that's the way we have always done it"
"This is the way we've always done it" and "we don't need automated tests. We've used the same scripts for 20 years!" are my two pet peeves in doing government work...