Time-Ignoring Sunk Costs.
Sunk cost fallacy: the belief that if you paid more for something, then it must be more valuable to you.
Time-Forecasting Future Tastes and Needs.
Projection bias: tendency to evaluate future consequences based on tastes and needs at the moment of decision making. People sometimes have trouble anticipating how they will feel about future outcomes.
A temporary mood or state of mind can exert a powerful influence on decisions that have longer-term consequences. Example: grocery shopping while hungry