Whitman Wire

Why Can’t Sports Teams Cut Their Losses

Dylan Snyder

March 13, 2013

In every economics course one of the first things you learn is about the idea of sunk costs. A sunk cost is basically something you have invested, usually time or money, that you have no chance of getting back. For example, a new technology is being developed and your company puts in a $20 million non-...

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Adrian Wilson