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Cognitive biases are mental shortcuts our brains take to simplify decision-making. While they help us process information quickly, they can sometimes lead us astray. In the case of Marie, she falls victim to a cognitive bias known as the sunk cost fallacy.
When we talk about cognitive biases, we refer to errors in processing that can arise from distorted thinking. These biases can cloud our judgment and lead us to make suboptimal decisions. Cognitive biases are inherent to all humans and can affect various aspects of our lives, from personal relationships to financial decisions.
In Marie's scenario, the cognitive bias manifests in her hesitance to leave Connor because of the years they've spent together. Her focus on the length of the relationship, rather than its quality, highlights how cognitive biases can cloud judgment and weigh heavily on decision-making.

Decision making involves selecting the best course of action from various options. A good decision-making process considers both current circumstances and future benefits, without being swayed by past investments that cannot be recovered.
For Marie, the decision of whether to stay or leave her relationship with Connor should ideally be based on her current happiness and future prospects. However, her decision-making process is compromised by her fixation on the past. By allowing past investments to overly influence her decision, she may disregard more critical factors like current relationship dynamics and future potential for happiness.
It’s important to remember that when making decisions, one should focus on outcomes and benefits that lie ahead, rather than getting caught up in what has already been spent or lost.

Behavioral economics combines insights from psychology and economics to understand how people actually make economic decisions. It examines why people sometimes act in seemingly irrational ways and how cognitive biases influence these actions.
In behavioral economics, the sunk cost fallacy is a classic example of how individuals might stick with a poor decision due to the costs of resources already spent. This field of study suggests that people like Marie might not always act in their best economic interest, because they're influenced by emotional and psychological factors, rather than objective analysis.
By studying behavioral economics, we gain insights into patterns of human behavior that traditional economic theories might overlook, such as why Marie values the past 9 years with Connor over her potential happiness moving forward.

Rational decisions are those made using logical reasoning, where choices are based on weighing potential outcomes and benefits against possible costs. A rational decision should consider only the present and future value of options, not past investments.
Marie's hesitancy to leave her relationship with Connor is not rational, as it centers around time already spent rather than what she stands to gain in the future. To make rational decisions, individuals need to evaluate situations based on the value they currently offer and the benefits that could be realized later.
In Marie’s case, a rational approach would be to assess whether staying with Connor benefits her now and whether it would lead to a happier future. By focusing on these aspects, she can make more informed decisions devoid of emotional baggage tied to past investments.