Louis Antony

Psychology of Money

The psychology of money is a fascinating topic. People are often irrational when it comes to money, and their behavior can be explained by a number of different psychological theories. For example, people are often reluctant to part with money, even when it would be in their best interest to do so. This is known as the sunk cost fallacy, and it occurs because people tend to value things that they have already invested in more than they should.