Why I like my electives more than my core.

"When we care about another person, we invest time, energy, thought, and feelings in interaction. In doing this, we invest ourselves in others. ... Investments are powerful because they are personal choices to give things that can't be recovered. ... The more we invest in a relationship, the more difficult it is to end it." - Communication Mosaics, Julia T. Wood

And in my BL245 lesson last week, we learnt about the $20 auction.

Here's how the game is played. You are bidding for $20. You can bid an additional $1 above each previous bid - simple, just like normal bidding. Except, the person who wins the bid pays the amount he bidded in return for the $20. But the second highest bidder has to pay the amount he bidded, but get nothing in return.

How high do you think the highest bid for this $20 ever went?

"Take the experiment run by Harvard Business School professor Max Bazerman. Over the past decade, Bazerman has auctioned off a $20 bill to students as part of a class he teaches. Using strict logic, nobody would bid over $20, but the auctions have reached over $400 as participants get caught in the game of trying to come out on top." - Eyes on the Prize

As accountants, we learn not to take sunk costs into account.

But that's not how people work.