Find a real world example of sunk cost reasoning. The example can be from something you read or heard, a direct experience, or something you know a bit about second hand. Use the expanded definition from class, where sunk cost reasoning need not be just a psychological bias, but could well be the result of institutional incentives or inertia.

• Briefly describe the behavior and explain why it is an example of sunk cost reasoning
• Briefly describe what factors led to the behavior
• Offer some suggestion about how the sunk cost reasoning might have been avoided