"Let’s say Putin realizes he’s in deep trouble. Russia has become a pariah state. His reputation, not great to begin with, is blackened."

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"And if he achieves nothing, he faces the risk of being overthrown by his own security and military elites. He may feel, then, that he has little to lose by fighting on. Things can’t get much worse for him than they already are. And if he somehow manages to succeed, things might get much better for him. Gambling for resurrection can be a rational behavior. But it’s the rational behavior of a man who has become desperate and will try almost anything to save his skin."

 From "Here Are Three Reasons Putin Might Fight On" by Peter Coy (NYT). The 3 reasons are: 1. sunk cost fallacy, 2. golden spike theory, and 3. (discussed in the quote above) gambling for resurrection.


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