Russell Korgaonkar - Optimizing the Research Process (S4E15)
Flirting with Models
00:00
How to Manage Project Costs and Portfolio Allocations
Some research projects are always going to be up front, and then others are on going. I am curious as to how you manage the ongoing costs of these long-term goals. How do you know when it's time to pull the plug? Do you avoid that sunk cost fallacy and just stick with the project because you've already put all the money into it? Or is there a better way we can look at things like predictors in terms of their opportunity cost or portfolio cost? We're pretty good at taking stock after two years - but i can think of plenty of occasions where we should have stopped something and done another thing.
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