sunk costn.

Brit.

/ˌsʌŋk ˈkɒst/, U.S.

/ˌsəŋk ˈkɔst/,

/ˌsəŋk ˈkɑst/

Origin: Formed within English, by compounding. Etymons: sunk adj., cost n.³

Etymology: < sunk adj. + cost n.³

Economics. Financial outlay which has already been incurred and cannot be recovered; a cost which is unavoidable when embarking upon a particular commercial endeavour. Frequently in plural.

ΚΠ

1910 I. Fisher Introd. Econ. Sci. xvii. 296 When any business involves a large sunk cost.., competition becomes of the cutthroat kind.

1916 H. G. Brown Transportation Rates & their Regulation i. 11 These sunk costs represent the amounts already invested in terminals, way, construction, and equipment.

1999 Financial Times 1 Nov. (Mastering Strategy Suppl.) 10/3 The simple decision rule for a potential entrant is this: enter the market if the post-entry profits are expected to be greater than the sunk costs of entering.

Compounds

attributive. Used in psychology and behavioural economics with reference to a reluctance to abandon a strategy or course of action in which one has already invested heavily even when it is clear that abandonment is rationally the correct response, as sunk-cost effect, sunk-cost fallacy, etc.

ΚΠ

1968 Columbia Law Rev. 68 645 Related to the Commission's sunk cost fallacy is its joint cost fallacy.

1981 A. Tversky & D. Kahneman in Science 30 Jan. 457/1 A sunk-cost effect arises when a decision is referred to an existing account in which the current balance is negative.

2008 Philadelphia Inquirer (Nexis) 18 Feb. c1 Worse yet is the so-called sunk-cost effect—ruinous to your stock portfolio, your love life and your poker game.

2010 New Yorker 18 Oct. 28/2 The familiar sunk-cost fallacy made things worse.

This entry has been updated (OED Third Edition, January 2018; most recently modified version published online March 2022).

单词	sunk cost
释义	sunk costn. Brit. /ˌsʌŋk ˈkɒst/, U.S. /ˌsəŋk ˈkɔst/, /ˌsəŋk ˈkɑst/ Origin: Formed within English, by compounding. Etymons: sunk adj., cost n.³ Etymology: < sunk adj. + cost n.³ Economics. Financial outlay which has already been incurred and cannot be recovered; a cost which is unavoidable when embarking upon a particular commercial endeavour. Frequently in plural. ΚΠ 1910 I. Fisher Introd. Econ. Sci. xvii. 296 When any business involves a large sunk cost.., competition becomes of the cutthroat kind. 1916 H. G. Brown Transportation Rates & their Regulation i. 11 These sunk costs represent the amounts already invested in terminals, way, construction, and equipment. 1999 Financial Times 1 Nov. (Mastering Strategy Suppl.) 10/3 The simple decision rule for a potential entrant is this: enter the market if the post-entry profits are expected to be greater than the sunk costs of entering. Compounds attributive. Used in psychology and behavioural economics with reference to a reluctance to abandon a strategy or course of action in which one has already invested heavily even when it is clear that abandonment is rationally the correct response, as sunk-cost effect, sunk-cost fallacy, etc. ΚΠ 1968 Columbia Law Rev. 68 645 Related to the Commission's sunk cost fallacy is its joint cost fallacy. 1981 A. Tversky & D. Kahneman in Science 30 Jan. 457/1 A sunk-cost effect arises when a decision is referred to an existing account in which the current balance is negative. 2008 Philadelphia Inquirer (Nexis) 18 Feb. c1 Worse yet is the so-called sunk-cost effect—ruinous to your stock portfolio, your love life and your poker game. 2010 New Yorker 18 Oct. 28/2 The familiar sunk-cost fallacy made things worse. This entry has been updated (OED Third Edition, January 2018; most recently modified version published online March 2022). < n.1910
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