Sunk-cost bias affects decision-making in innovation projects, leading to zombie projects. Daily reflection and mindfulness meditation can help reduce sunk-cost bias and the anticipation of regret in the future if a project is abandoned.
Outsourcing digital work can save time and cost, boost access to specialized talent, and enhance focus on core business, according to Danger Farms.
Game theory helps to understand the decision-making process of rational players in interactive situations. It has applications in various fields like economics, business, psychology, and war.
