Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “Concorde fallacy”

Concorde fallacy

noun [S]
 
 
ECONOMICS, MANAGEMENT
the idea that you should continue to spend money on a project, product, etc. in order not to waste the money or effort you have already put into it, which may lead to bad decisions: The Concorde fallacy refers to the fact that the British and French governments continued to fund the aircraft even after it became apparent there was no longer an economic case for it. →  Compare sunk cost
(Definition of Concorde fallacy from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of Concorde fallacy?
Add Cambridge dictionaries to your browser to your website

Word of the Day

christmassy

typical of Christmas, or happy because it is Christmas

Word of the Day

Cleavage proves divisive in Cambridge’s words of 2014

by Alastair Horne,
December 19, 2014
​​​​ Other dictionaries may choose faddish novelties as their words of the year, but here at Cambridge, we like to do something different. We look for the words that have seen sudden surges in searches over the course of the year – words that have been baffling users of English and driven them

Read More 

tweleb noun

December 22, 2014
informal a Twitter celebrity; (more specifically, someone who has more than 1,000 followers on Twitter) There were a few old and a few new faces, including a tweleb or two. Expect to see and hear more from these cool kids.

Read More