On this day, Air France and British Airways announced that they would stop operating the supersonic Concorde aircraft

Nowadays, few of the younger generation know about the Concorde aircraft, but the project itself has become a classic example of the so-called "non-sunken cost trap", for which the second name has become the "Concorde effect" or "Concorde trap".

At the household level, this trap is encountered every day - for example, a person, having decided to go on a diet, nevertheless eats up all the household supplies of unhealthy food, because it has "already been paid for". However, what is obvious at the household level is not always obvious at the government level.

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For example, in 1962, France and Britain agreed to jointly develop and manufacture the supersonic passenger aircraft Concorde, which could fly from London to New York in just three hours. They planned to spend $130 million on the development of the project, and many such aircraft were quickly identified. But precisely because governments could not accept that the money had been, almost literally, thrown down the drain, the project continued until it had cost $2.8 billion.