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Good and logical argument

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Reference no: EM133052598

Your company, Acme, Inc., is a plaintiff in a lawsuit against Trump, Inc. In the lawsuit, Acme is seeking $1,000,000 in damages for a breach of contract because Trump, Inc. breached its contract with Acme. Trump, Inc. has offered to settle the lawsuit for $150,000. In discussing whether to accept the settlement, your boss points out that Acme has already spent 6 months and $100,000 on the lawsuit, and hence, it should just continue with it rather than accepting this settlement. This type of reasoning reflects which fallacy?

Endowment effect

Sunk cost fallacy

Fourfold pattern

None -- this is a good and logical argument.

Reference no: EM133052598

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