Behaviour
Sunk cost fallacy
Continuing with something because of what you have already put in, rather than what lies ahead.
How it works
Money already spent is gone regardless of what you do next. The only question that matters is whether this is the best use of the capital from here.
In investing it shows up as averaging down into a deteriorating business to justify the original decision.
Related terms
More in Behaviour
Educational reference only. Nothing here is investment advice or a recommendation to buy or sell anything, and tax treatment depends on your own circumstances and the country you are in.