15. Concluding Questions

What is the sunk-cost fallacy?

A human tendency to continue investing in something because of previous investments, even when stopping would be the better decision.

What is status quo bias?

The preference to keep things unchanged because people want to avoid possible losses.

What is the Concorde Fallacy?

A situation where governments continued investing in the Concorde aircraft despite evidence that it was not a good investment.

What is commitment bias?

The tendency to continue supporting past decisions despite new evidence showing they may be wrong.

What is loss aversion?

The idea that people feel the pain of losses more strongly than the pleasure of equivalent gains.

Why do humans experience the sunk-cost fallacy?

Because people frame experiences as a continuous narrative and become emotionally attached to previous commitments.

What is an example of sunk-cost thinking?

Continuing to read a bad book because you already spent time reading it.

How can people reduce sunk-cost thinking?

By making rational, data-based decisions instead of emotional decisions.

How do clear goals help decision-making?

They allow people to evaluate whether their choices are moving them toward their objectives.

What is a decision matrix?

A method of comparing options using specific criteria to make systematic decisions.

Why can overinvestment sometimes still be valuable?

It can provide learning experiences even if the original decision fails.

What is a prospective cost?

A cost that has not happened yet but will occur in the future.

How can AI help with human decision-making?

It can identify patterns of human biases and flaws, especially in business decisions.

Who studied the idea that paying more for something increases its usage?

Richard Thaler.

What did Richard Thaler discover about paying for goods?

People tend to use goods more when they have paid for them.

Who established the modern definition of sunk costs?

Hal Arkes and Catherine Blumer.

How did Arkes and Blumer study sunk-cost behaviour?

Through hypothetical experiments, such as ski trips, and real-life experiments, such as theatre tickets.

Where else has sunk-cost behaviour been observed?

In education, such as continuing with an enrolment decision.

Are older or younger people more affected by sunk costs?

Younger people are generally more susceptible than older people.

What is Zeno’s main philosophical idea about motion?

He argued that change and motion do not truly exist.

What is Zeno’s first paradox about?

The idea that reaching a destination requires completing an infinite number of smaller distances.

How did Zeno’s paradox influence mathematics?

It helped inspire the development of calculus.

What is Achilles and the Tortoise paradox?

A paradox where Achilles can never catch the tortoise because the tortoise always moves slightly ahead.

What is the Frozen Arrow paradox?

The argument that an arrow is always stationary at each tiny moment of time, questioning the reality of motion.

How does calculus solve Zeno’s paradoxes?

It shows that infinitely small intervals can still combine to create movement.

What is the Stadium paradox?

A paradox involving three rows of people moving in different directions and questioning relative motion.

What philosophical lesson do Zeno’s paradoxes show?

They demonstrate that simple concepts like motion and infinity can contain deep complexity.

What is the “Are we there yet?” example connected to?

The frustration and impatience caused by long journeys.

Why does Donkey repeatedly ask “Are we there yet?” in Shrek 2?

He represents impatience during a long journey to Far, Far Away.

Who wrote “The End of History”?

Francis Fukuyama.

When did Fukuyama publish “The End of History”?

In 1989.

What did Fukuyama argue in “The End of History”?

That liberal democracy and market economies represented the ideal form of social organisation.

How did Fukuyama define a democratic state?

A state with elections reflecting public will, strong institutions, and leaders limited by law.

Why did Fukuyama criticise non-democratic systems?

He argued that concentrated power and lack of public participation create unstable governments.

What did Fukuyama later admit about his prediction?

He admitted that the rapid arrival of the end of history was exaggerated.

What criticism do opponents make of Fukuyama’s theory?

They argue he ignores practical details and does not explain how the perfect state would be implemented.

Who originally developed the idea of the end of history?

The German philosopher Georg Wilhelm Friedrich Hegel.

What did Hegel believe history had?

A telos, meaning a goal or endpoint.

What was Hegel’s proposed endpoint of history?

A perfectly just and rational state where humans could fully develop their abilities.

How did Alexandre Kojève interpret Hegel’s ideas?

He argued the French Revolution represented the beginning of the end of history.

What did Karl Marx believe the end of history would be?

A global communist society where people contribute and receive according to their abilities and needs.

Why did Fukuyama reject Marx’s interpretation?

He argued the collapse of the Soviet Union showed communism was not the final stage of history.

Did Fukuyama believe any country had achieved a perfect democracy?

No, he argued existing democracies remain flawed.

Did Fukuyama guarantee that a perfect democracy would happen?

No, he stated it may never fully exist.

What is the theme of unexpected endings?

They show how uncertainty and open possibilities can create meaning.

What happened at the end of Stargate?

The characters were left in stasis, with one missing pod, leaving the story unresolved.

Why was Stargate’s ending considered meaningful?

The uncertainty allows audiences to imagine infinite possibilities.

Why was Stargate cancelled?

The studio faced financial problems and the series was becoming old.

Who is Tony Soprano?

The main character of The Sopranos, a New Jersey mobster balancing his criminal life and family life.

What happens in the final scene of The Sopranos?

Tony sits in a diner waiting anxiously, then the scene cuts to black before showing what happens.

What does the ending of The Sopranos represent?

Tony’s guilt and past actions mean he will always live with fear and uncertainty.

What clue suggests Tony may have been killed?

A man entering the bathroom references a scene where Michael Corleone kills enemies in The Godfather.

What does the black screen in The Sopranos possibly represent?

Tony’s final perspective before death.

What film ending does The Sopranos parallel?

The ending of 2001: A Space Odyssey.

What happens in Life of Pi?

Pi survives a shipwreck and tells a story involving animals that may represent people.

Why do insurance agents question Pi’s story?

They do not believe his animal survival story and ask for another explanation.

What are the two possible interpretations of Life of Pi?

The animal story could be true, or it could be a symbolic version of the human events.

What does Pi say about which story is true?

He says it does not matter because his family died and neither version satisfies the insurance company.

What deeper idea does Life of Pi explore?

It explores how truth, belief, and storytelling can exist in multiple forms.

What is the Harry Potter epilogue?

The final scene of Deathly Hallows showing Harry, Ginny, Ron, Hermione and their children many years after the war.

What is one criticism of the Harry Potter epilogue?

Harry appears to choose all his children’s names without showing Ginny’s influence.

Why do critics dislike the peaceful post-war world in Harry Potter?

They believe the consequences of a major war should have been more visible.

Why do some critics think the characters’ recovery is unrealistic?

They experienced major trauma but appear to have few lasting consequences.

Why is the romantic ending criticised?

Most main characters marry their high school partners, which is uncommon in real life.

What is the main problem with the Harry Potter epilogue according to critics?

It provides a neat ending that ignores the complexity and consequences of the characters’ experiences.