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** It should be noted that in all these cases the sunk costs are still ignored, the utility of the prize is weighed against the $7 that still must be paid, not against the $8 that has already been sunk, etc.
** It should be noted that in all these cases the sunk costs are still ignored, the utility of the prize is weighed against the $7 that still must be paid, not against the $8 that has already been sunk, etc.
* The relationship between military situations and this fallacy is rarely clear-cut. If you are close to a valuable objective then continued effort may be justified. If this decision was based on one's ''own'' sunk costs, it was at best [[Right for the Wrong Reasons]].
* The relationship between military situations and this fallacy is rarely clear-cut. If you are close to a valuable objective then continued effort may be justified. If this decision was based on one's ''own'' sunk costs, it was at best [[Right for the Wrong Reasons]].
** This was long argued to be the main reason why Russia lost the [[Russo Japanese War]]. By the end of the war Japan was winning militarily, but its economy was stretched to the breaking point, and their mobilization resources were completely depleted, as they had started drafting kids and geezers into the army, with the predictable outcome for troops quality and morale. Some analysts say that had Russia pushed just for a couple of months more, even in the wake of the horrific losses like Tsushima and Mukden, Japan would've sued for peace. On the other hand the Tsar's government had really lousy intelligence and ''[[Didn't See That Coming|didn't know that]]'', so they decided to [[Know When to Fold'Em|cut their losses]] and sued first.
** This was long argued to be the main reason why Russia lost the [[Russo-Japanese War]]. By the end of the war Japan was winning militarily, but its economy was stretched to the breaking point, and their mobilization resources were completely depleted, as they had started drafting kids and geezers into the army, with the predictable outcome for troops quality and morale. Some analysts say that had Russia pushed just for a couple of months more, even in the wake of the horrific losses like Tsushima and Mukden, Japan would've sued for peace. On the other hand the Tsar's government had really lousy intelligence and ''[[Didn't See That Coming|didn't know that]]'', so they decided to [[Know When to Fold'Em|cut their losses]] and sued first.
*** Of course, this war was deemed logistically impossible by the Chief of Staff before it even started, and would be strategically crippling for Russia even in the impossible best-case scenario, so in a way it's an ''inversion'' of going with sunk costs: the monarch in question turned away from his own awful decision in the worst possible moment, which in itself caused more damage.
*** Of course, this war was deemed logistically impossible by the Chief of Staff before it even started, and would be strategically crippling for Russia even in the impossible best-case scenario, so in a way it's an ''inversion'' of going with sunk costs: the monarch in question turned away from his own awful decision in the worst possible moment, which in itself caused more damage.
* When the possible return is so great compared to the possible loss that it is deemed a reasonable risk to take. That's gambling, not fallacious.
* When the possible return is so great compared to the possible loss that it is deemed a reasonable risk to take. That's gambling, not fallacious.
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[[Category:Logical Fallacies]]
[[Category:Logical Fallacies]]
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[[Category:Sunk Cost Fallacy]]
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