09 Jan '12, 7pm

When Does It Pay to Quit?

When Does It Pay to Quit?

Believe it or not, quitting isn't necessarily the mark of a loser. There is a time and place for giving up, just as there is a time and place for digging one's heels in and staying on. Does that mean then that Napoleon Hill's saying "a quitter never wins and a winner never quits" is moot? According to a podcast by Stephen J. Dubner on Freakonomics.com , there are upsides to quitting - if you do it for the right reasons. Other than the often cited career changing quits, one may quit a band, a bad habit, a sports team, a community and even a religion. In evaluating the dilemma between staying or going, a common consideration is the balance between sunk costs and opportunity costs. This a trade-off between what you've spent (time, money, energy) in any endeavour, and what you're foregoing if you do choose to continue in that trajectory. Often, people end up sticking to what t...

Full article: http://coolinsights.blogspot.com/2012/01/when-does-it-pay...

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