For example, individuals sometimes order too much food and then over-eat just to “get their money's worth”. Similarly, a person may have a $20 ticket to a concert and then drive for hours through a blizzard, just because she feels that she has to attend due to having made the initial investment.
They argue that all their high school friends are doing it because some celebrity just got this new tattoo. Now, whatever your feelings about tattoos, this is a logical fallacy. Just because everyone's getting this tattoo doesn't mean it's the right choice for your kid.
The sunk cost fallacy means that we are making decisions that are irrational and lead to suboptimal outcomes. We are focused on our past investments instead of our present and future costs and benefits, meaning that we commit ourselves to decisions that are no longer in our best interests.
Logical fallacies are flawed, deceptive, or false arguments that can be proven wrong with reasoning. There are two main types of fallacies: A formal fallacy is an argument with a premise and conclusion that doesn't hold up to scrutiny.
A false dilemma, also referred to as false dichotomy, is an informal fallacy based on a premise that erroneously limits what options are available. The source of the fallacy lies not in an invalid form of inference but in a false premise.
The bandwagon fallacy is also sometimes called the appeal to common belief or appeal to the masses because it's all about getting people to do or think something because “everyone else is doing it” or “everything else thinks this.” Example: Everyone is going to get the new smart phone when it comes out this weekend.
A past cost is money that has already been spent. These funds cannot be recovered, so the related cost is irrelevant for decision-making purposes. A past cost is also known as a sunk cost.
A sunk cost refers to a cost that has already occurred and has no potential for recovery in the future. For example, your rent, marketing campaign expenses or money spent on new equipment can be considered sunk costs. A sunk cost can also be referred to as a past cost.
Sunk costs are the costs which have been created by a decision that was made in the past and cannot be changed by any decisions that will be made in the future. A sunk cost cannot be recovered and are considered irrelevant for future decision making.
A red herring is a logical fallacy in which irrelevant information is presented alongside relevant information, distracting attention from that relevant information. This may be done intentionally or unintentionally.
A basic example of an ad hominem argument is a person telling someone “you're stupid, so I don't care what you have to say”, in response to hearing them present a well-thought position.
A logical fallacy is an error in reasoning that renders an argument invalid. It is also called a fallacy, an informal logical fallacy, and an informal fallacy. All logical fallacies are nonsequiturs—arguments in which a conclusion doesn't follow logically from what preceded it.
The ad hominemThe ad hominem is one of the most common logical fallacies. While it can take many forms — from name calling and insults, to attacking a person's character, to questioning their motives, to calling them hypocrites — any argument that targets the source, rather than the argument, is an ad hominem.
Logical fallacies are deceptive or false arguments that may seem stronger than they actually are due to psychological persuasion, but are proven wrong with reasoning and further examination. These mistakes in reasoning typically consist of an argument and a premise that does not support the conclusion.
Types of Logic With ExamplesPremises: Nikki saw a black cat on her way to work. At work, Nikki got fired. Conclusion: Black cats are bad luck. ... Premises: There is no evidence that penicillin is bad for you. I use penicillin without any problems. ... Premises: My mom is a celebrity. I live with my mom.
Species of Fallacious Arguments. The common fallacies are usefully divided into three categories: Fallacies of Relevance, Fallacies of Unacceptable Premises, and Formal Fallacies. Many of these fallacies have Latin names, perhaps because medieval philosophers were particularly interested in informal logic.