MrHen comments on Sunk Cost Fallacy - Less Wrong
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Comments (44)
Yeah, I think we are saying the same thing. History is irrelevant when determining the worth of a movie ticket. I just mentally represent it as a state diagram instead of worrying about whether the ticket lost was a sunk cost in order to avoid a fallacy.
Right, and I think your question is the valid point.
For what it is worth, the state diagram for the first example would shift the worth from the movie ticket to watching the movie itself:
By the way, the reason I use state diagrams is because I arrive at the "purchased state" if someone else gives me a ticket. If someone gives me a ticket to a movie, am I obligated to use it? Ignoring any social concerns, the answer is no.