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The Concorde fallacy, also known as the sunk cost fallacy, refers to the tendency for people to continue investing time, money, or other resources into a project or venture that is not producing the desired results, simply because they have already invested so much into it. This type of decision-making is based on the belief that if they can just hang on a little longer or put in a little more effort, they will eventually see a return on their investment. However, this line of thinking ignores the opportunity cost of continuing to invest in a project or venture that is not producing the desired results, and can ultimately lead to poor decision-making and wasted resources.
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