keefe comments on Useful maxims - Less Wrong

26 Post author: ciphergoth 11 July 2012 11:56AM

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Comment author: tut 14 July 2012 10:28:52AM 0 points [-]

So "Don't eat your money" is a warning against the sunk cost fallacy.

But wouldn't the rational response in the mullah's situation be to start selling the "fruits" for about the same price as the one you bought them from.

Comment author: keefe 14 July 2012 12:36:36PM 0 points [-]

Interesting point...

it's worth noting that he bought them for 2 pennies and the vendor is now gone, but yeah, sunk cost fallacy seems to be about right. For me, the visualization of the story is more real and powerful to me than remembering an abstract idea. There's quite a lot of these stories and most of them are rather old, some more of them are here...

http://www.nasrudin-stories.com/