The Fallacy of 'Staying the Course'

Summary


YOU'VE PAID $10 to get into the movie, and it just plain stinks. The plot is ridiculous, the acting is terrible, the violence is excessive. But you've already watched half of it. Do you sit through the movie to the end, or do you leave?

Just a month ago, you spent $2,000 getting your 10-year-old car's transmission rebuilt. Now you find out the car is leaking oil and needs a ring job. Do you spend the next thousand or buy a new car?

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Extract


The Fallacy of 'Staying the Course'

You've been living with your romantic partner for 10 years. The relationship has had its ups and downs, and both of you have invested a lot in keeping it going. But every day it seems to involve more work and less joy. Is it time to move on?

You work for a private equity firm and pers...

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