In a New York shop, I once got pressure-sold something expensive I didn't really want; when I said it cost too much, I was asked what I might be prepared to pay, and we ended up haggling. Since then, I've had a rule:
- If it's a non trivial price, never decide to buy while you're in the shop
and I have been very glad of it on many occasions. I can go for a short walk to decide, and if I don't want it, I simply don't return to the shop. This means I'm deciding in calm surroundings, based on what I want rather than on embarrassment.
Are there other maxims I could adopt that would serve me equally well?
(Personal note: I'm in the Bay Area for a week after minicamp, Sunday July 29th to Sunday August 5th. Let's hang out, go to things together, help make my visit cooler! Mail me: paul at ciphergoth.org. Thanks!)
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.
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/