For those who are waiting until their incandescent light bulbs burn out before switching to LED bulbs, experts agree—from both a financial and an environmental perspective—it makes sense to throw those perfectly working bulbs in the trash and replace them with LEDs.
Severin Borenstien, a professor at the Haas School of Business, in his online Berkeley Blog, uses people’s unwillingness to discard working incandescent bulbs as an example of the “sunk cost fallacy,” a common error in judgment...
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