Core Concept - The article discusses the concept of "sunk cost" and its psychological effects on decision-making, emphasizing the importance of recognizing and overcoming these biases to make better choices in life and investments [2][3][11]. Group 1: Understanding Sunk Cost - Sunk cost refers to past expenditures that cannot be recovered, including time, money, and effort [3][4]. - The article illustrates the sunk cost effect through a shoe-buying scenario, where individuals may continue to invest time and energy into a poor decision due to emotional attachment and the desire to avoid loss [6][8]. Group 2: Psychological Factors - The phenomenon of loss aversion explains why individuals struggle to let go of sunk costs, as the pain of losing something is often felt more acutely than the pleasure of gaining something [9][10]. - The article highlights that those who can decisively cut their losses tend to save time and energy, allowing them to focus on more important decisions [11]. Group 3: Recommendations to Overcome Sunk Cost - Emphasizing the value of time is crucial, as time is a finite resource that should be spent wisely to maximize productivity [13][14]. - Recognizing that sunk costs are irretrievable can help individuals avoid unnecessary emotional turmoil and make clearer decisions [17]. - Developing a goal-oriented mindset can prevent individuals from being sidetracked by irrelevant opportunities, ensuring that they stay focused on their primary objectives [18]. - Reducing the frequency of trivial decisions can help conserve mental energy, allowing for better decision-making in more significant matters [20].

Group 1 - The core issue revolves around the dilemma faced by parents regarding whether to support their child's domestic college entrance examination (Gaokao) or to pursue studying abroad, highlighting the emotional and psychological stress involved [1][2][3] - The article discusses the advantages of studying abroad, such as exposure to international perspectives and independence, contrasted with the benefits of Gaokao, which provides a solid educational foundation and access to quality domestic resources [1][4] - Financial considerations are significant, with studying abroad costing between 300,000 to 500,000 yuan annually, while domestic education typically ranges from 100,000 to 200,000 yuan, emphasizing the economic burden of the decision [2][4][6] Group 2 - Cultural adaptation challenges are noted, including language barriers and safety concerns for children studying abroad, which can impact their overall well-being [2][3] - The article suggests evaluating the child's personality traits, such as independence and resilience, to determine the most suitable educational path, indicating that children with strong curiosity may benefit from international experiences [4][5] - Practical strategies are recommended for parents to facilitate decision-making, such as creating a visual representation of priorities regarding education paths and engaging in discussions with individuals who have experience in both systems [5][6]