Psychology of previous investment

The psychology of previous investment is a term coined by James Howard Kunstler for the sunk costs of the modern urban/suburban lifestyle. It is the reluctance to abandon technologies and standards of urban infrastructure into which humans have already made substantial investments, and is seen as a major contributor to modern energy crises.

See also

• Abandonment cost
• Sunk cost fallacy

References

• The Psychology of Previous Investment - Raise the Hammer
• PetroCollapse New York Conference; October 5, 2005 - Remarks on the subject from Kunstler's website