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Annie Duke on the Power of Quitting

EconTalk

Did You Lose the Money Because It Was a Mine?

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There is evidence that people do get better at this stuff with experience. A study by Colin Cameron and Richard Thaler looked at trip sheets from cab drivers in the 80s. They found something very surprising, which was that when there were lots of fares, the cab drivers would quit really fast. When there were very few fares, they would go forever.

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