Abstract

This chapter applies the theory of temporal neutrality to past commitments. How do we distinguish irrational sunk cost reasoning from rationally permissible honoring of past plans? The chapter provides a parallel principle to Weak Forecasting called Weak Honoring that explains the difference. Roughly, given full information, it is permissible to choose any option you have not foresworn and will never regret over any option you have foresworn or will regret. The chapter considers alternative solutions to the sunk cost puzzle drawn from Nozick (rational irrationality), Bratman and Holton (commitment), Hurka and Kelly (structuralism), and Korsgaard (integrity). It raises objections for each of these alternative accounts.

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