Having said that, however, the time and effort expended to date are sunk costs.[12] Granted, many people are not very good at ignoring sunk costs.[13] Ignoring sunk costs, however, is precisely what rational decision makers – including the ALI – ought to do.[14] The basic problem with the proposed Restatement of the Law of Corporate Governance is that corporate law is not a suitable subject for being restated. [read post]