What effects can the sunk cost fallacy have?-CEFR

Similar to this, victims of psychic fraud will keep devoting time, money, and emotional energy to the endeavor despite reservations or suspicions that something is amiss.

In reality, sunk costs frequently have an impact on people's choices, with individuals reasoning that investments (i.e., sunk costs) justified further prices. After making an investment of time, money, or effort, people show "a higher inclination to continue an undertaking." This is known as the sunk cost fallacy, and it may be said that such behavior amounts to "throwing good money after bad" and a refusal to accept what could be called "cutting one's losses." 

Because they "have already invested too much to quit," for instance, some people continue in unhealthy relationships. Others are persuaded by claims that the conflict must go on because otherwise, the lives of those who have died will have been in vain.

These behaviors are frequently categorized as behavioral mistakes since they do not appear to follow the rational choice theory.