Yes I know, your least-favorite idea goes here. But seriously, someone must have come up with the concept before. Like a bad get-rich-quick scheme could fall into this category, where joining the scheme makes people lose money and become more desperate, so they become more likely to do desperate things like invest more in the scheme. But it can apply to a number of other bad ideas.
Conservativism.
That’s more of a mental disability
There’s a certain amount of Gambler’s Fallacy in this, too: I’ll keep going, because it’s going to turn around.
Yeah, I think it’s the really the Gambler’s Fallacy, even if OP doesn’t describe gambling. It’s the idea of “It’s my turn for success to come soon – I’m due for my turn!”
Feels like there ought to be a term… it’s kind of a mix between “vicious circle”, “feedback loop”, and “echo chamber”.
Sunk cost fallacy is probably the most obvious one that springs to mind. Not unlike gambling in a sense, people feel they just need one big payout to win it all back and then some, so they keep betting, hoping that this time things will go in their favour.
Being a straight, white man /s
I would usually refer to such a thing as a “Producers” (like the play) but that is specifically for bad ideas that suck for a majority of people but benefit a few; like the plot of the play where they make a flop to get more money than they would with a hit.
