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buybuydandavis comments on "What-the-hell" Cognitive Failure Mode: a Separate Bias or a Combination of Other Biases? - Less Wrong Discussion
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Comments (34)
In for a penny, in for a pound.
That's just throwing good money after bad.
Sure, but you don't know it's bad. If you're in for a penny, that's evidence (if you trust your own judgement) that it's actually a good investment, and should go in for a pound if you can afford it.
Of course, treating your own belief in a proposition as evidence for that proposition seems like a rather dangerous thing to do.
Depends, you don't necessarily want to recompute prepositions every time they come up.
Absolutely! But I think a lot of people implicitly do the equivalent when they try to be or appear consistent at all costs. The reasoning goes something like, "I believe X, therefore I must have a good reason for it and so X must be true!"