Overcoming Sunk Cost Bias, When You Should Drop That Domain Name

Deciding to drop a domain name (or sell if possible) is sometimes a challenging decision, particularly with sunk cost bias at play on our mind and emotions, here's an easy rule to remember and apply:

"A formula for success in life and finance: never hold an investment that you would not be willing to purchase afresh today."

Source: TraderFeed: What Trading Teaches Us About Life

For more on sunk cost bias and how it affects (and subverts) our investment decisions:

• Sunk Cost Trap Definition | Investopedia
• How the Sunk Cost Fallacy Makes You Act Stupid
• Sunk costs - Wikipedia
• Sunk Cost Bias: How It Hinders Your Life and 4 Ways to Overcome It
• Freakonomics » Meditating on Those Sunk Costs

Follow @DomainMondo