On February 24, 2022, Russian President Vladimir Putin launched a military invasion of Ukraine. He apparently expected to quickly achieve his main objectives, including occupying the Ukrainian capital of Kyiv and replacing the Ukrainian government. After three weeks, the fierce resistance of the Ukrainian armed forces prevented him from achieving these objectives. Although the Russian military had expected to experience few casualties or losses of equipment, in fact, the military personnel killed exceeded the number of U.S. military personnel killed since 2001 in the conflicts in Afghanistan and Iraq combined. Many Russian tanks and planes were also destroyed. The United States, the European Union, and other countries imposed economic sanctions on Russia that reduced the country’s ability to import or export most goods, including oil and natural gas. The result of the sanctions was a reduction in the standard of living of the average Russian citizen. Most importantly, the war has killed thousands of Ukrainians and severely damaged many Ukrainian cities.

Using economic concepts, explain whether it was rational for Putin to persist in the invasion, or if he would have been acting rationally if instead he had withdrawn troops from Ukraine or accepted a political compromise.

In your answer be sure to define what acting rationally means. (As of late 2023, the invasion continued, and there was no indication that a political compromise would occur.)