when performing a cost benefit analysis sunk costs are ignored entirely that is because the price has already been paid and if it can not be recovered it has no financial bearing on the future outcome of a decision 
applications of behavioral economicsone field in which behavioral economics can be applied to is behavioral finance which seeks to explain why investors make rash decisions when trading in the capital markets much like how poker professionals not only study the mathematics and odds of poker they also attempt to capitalize on the irrational nature of other players the same can be said of financial markets 