Open AccessThe sunk cost fallacy in the implementation of virtual medical education
Author(s) -
Maxim Gorshkov
Publication year - 2021
Publication title -
virtualʹnye tehnologii v medicine
Language(s) - English
Resource type - Journals
eISSN - 2687-0037
pISSN - 2686-7958
DOI - 10.46594/2687-0037_2021_1_1285
Subject(s) - sunk costs , retraining , fallacy , investment (military) , upgrade , key (lock) , constraint (computer aided design) , business , resource (disambiguation) , risk analysis (engineering) , economics , engineering management , knowledge management , operations management , computer science , engineering , microeconomics , computer security , political science , mechanical engineering , computer network , philosophy , epistemology , politics , international trade , law , operating system
Administrative decisions in the medical education are subject to the general theory of management, one of the key concepts of which is «sunk cost» – financial investment, time or other resource input that cannot be returned in the future. In medical education, these include investments in the construction, reorganization and reconstruction of buildings and premises, installations and upgrade of technologies, equipment and software, research and development, training and retraining of pedagogical personnel. One should avoid the sunk cost fallacy by not taking into consideration such non-returnable investment, when making a managerial decision on the implementation of virtual technologies into medical education.