Talk:Logical Fallacies/@comment-45042659-20200220045747

Sunk cost fallacy- refers to the fallacy of honoring sunk costs, which decision-theoretically should just be ignored. A example is something like this:

You paid $100 for a concert ticket, you dont want to go anymore, but you dont want to feel like you wasted the money. So you go spend even more money to use the ticket you originally purchased, and still dont have a good time. Now you are out $200 instead of $100, because you didnt want to waste the original $100.

Not recognizing the sunk cost fallacy usually leads to wasting more money/time/manpower.

Appeal to money- refers to the fallacy of associating money with being factual.

"The Lion King is the best movie of all time because it made x amount of money."

It may be a good movie but not because of the money involved.

Money is wealth- refers to the fallacy of associating more money with more wealth.

"The government can just print more money."

This is a fallacy because it completely removes the concept of inflation from consideration.

Hidden cost fallacy- refers to the fallacy of ignoring the costs involved with a decision, often ignoring the cost of capital.

"It's just $25 a month!"

Arguement to moderation-  When you dont really take a side, instead choosing to take the position that the truth is a combination of both sides.

Brandon Martin