Why you're still watching that bad show

In 1985, psychologists Arkes and Blumer sold theatre season tickets at randomly different prices: some people paid full price, others got a surprise discount. The plays were identical. Yet those who had paid more attended noticeably more shows.

They weren't going because they felt like it — they were going to "get their money's worth". That's the sunk cost fallacy: pouring more time or money into something just because you already have, even though what's spent won't come back either way.

The most expensive case was Concorde: France and Britain kept funding it for years knowing it would never turn a profit. They had spent too much to stop. Today it's literally called the Concorde fallacy.

So the right question is never "how much have I put in?" but "what would I do if I were starting from scratch today?". The show, by the way — you're allowed to quit.