Boondoggle Quotes

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Boondoggle Quotes

This mindset, known as loss aversion, the sunk-cost fallacy, and throwing good money after bad, is patently irrational, but it is surprisingly pervasive in human decision-making.65 People stay in an abusive marriage because of the years they have already put into it, or sit through a bad movie because they have already paid for the ticket, or try to reverse a gambling loss by doubling their next bet, or pour money into a boondoggle because theyve already poured so much money into it. Though psychologists dont fully understand why people are suckers for sunk costs, a common explanation is that it signals a public commitment. The person is announcing: "When I make a decision, Im not so weak, stupid, or indecisive that I can be easily talked out of it." In a contest of resolve like an attrition game, loss aversion could serve as a costly and hence credible signal that the contestant is not about to concede, preempting his opponents strategy of outlasting him just one more round.
— Steven Pinker —

For every dollar that is spent on the (boondoggle) bridge a dollar will be taken away from taxpayers. If the bridge costs $1,000,000 the taxpayers will lose $1,000, 000. They will have that much taken away from them which they would otherwise have spent on the things they needed most.

— Henry Hazlitt

During December we are all ingesting, imbibing, and spending with a reckless abandon like a bachelor party on a guilt-free boondoggle. Everyone has the unspoken agreement that what happens in December stays in December.

— Jim Gaffigan

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