Suppose you go to a restaurant and buy an expensive meal. Halfway through, despite feeling quite full, you decide to clean your plate. After all, you think, you paid for the meal, so you are going to eat all of it. What’s wrong with this thinking?
A sunk cost stands for the cost incurred for as service or good (Arnold, 2011). The cost cannot be recovered and, therefore, the person has to make good use of the service or good he or she has bought. Some sunk costs can be referred to as variable or fixed costs depending on the situations people find themselves in. The sunk cost is usually followed by choices which one has to make. The choices are made based on the nature of service provided whether it is good or to some extent not satisfactory. The sunk cost means that the expensive meal has already been paid for, and the person has made a choice of eating the food. The meal was good and though it was plenty the person had the option to finish it or not since his thinking was such that he had paid for the food.
Such thinking is not right since he is still full, and he will have to endure stomach pain or ache, which may cause discomfort to the person. Since the person is satisfied, and the cost has already been incurred he has the option to either carry the food or eat to the full and suffered a stomachache. The first option is better since the person will not have any harm to his stomach. The second option gives the person more harm since eating to the full may lead to various stomach complications as explained above. Therefore, I would choose not to eat to the full and have comfort though the food has already been paid. As a result, part of the food will be left though I had paid for it.