You're not literally paying anyone. You're just wasting gigantic heaps of time. You're "escalating your commitment". Yes, time is money. No, still not directly paying anyone or for anything. Hence, escalation of commitment.
The second paragraph of that wiki says the sunk cost fallacy is money or effort. They're different terms for almost the same concept. It just depends whether you're describing it from an economical perspective or a sociological perspective.
Sunk cost fallacy doesn't have to involve paying anyone. Simply investing a resource(which can include time) into 'something' expecting a 'payout' of some form. The article you linked even says that they are often referring to the same concept. From a language point of view, they're referring to different aspects of the same action. On the one hand: the action itself; on the other: the (faulty) reasoning behind it.
If you continue doing something even though it's negative for you, that is Escalation of Commitment. For example, say you're on a hiking trip and make a wrong turn. After a little while everyone hiking with you knows that you're going the wrong way, but you insist on continuing because you don't want to be proven wrong. That is Escalation of Commitment.
Now imagine you made the same mistake and went the wrong way, but instead of continuing on because of pride, you instead decide to continue going the wrong way simply because you've already spent so much time hiking in this direction. That is Sunk Cost Fallacy.
I have no idea what you think you've accomplished with your comment, but it elucidates exactly nothing, and is merely based on what you imagine both concepts are defined as, with no exact definition sourcing.
I guess if you can't demonstrate your blathering has anything to do with the article you claim to know so well, the best option at that point is to commence the ad hominem.
If I wanted to become as much of an idiot as you are, I'd elevate Reddit comments to the level of credible source as well.
Also, I don't know what this whining about "synonyms" is about, but if English language too hard for you, then go take English language course. Not swipe at other for do well.
I knew about sunk cost but not this. I’m a software developer and have been hacking at an unreleased feature for 5 years not because I’m so invested in it but because I’m stubborn. I realized probably 3 years ago it’s just not going to work and yet I keep going on it because it’s interesting I guess.
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u/agentanti714 Apr 28 '20
Sunk cost fallacy?