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CM 225: Annie Duke on Knowing When to Quit

Curious Minds at Work

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The Third Problem Is Myopia

We set goals based on cost benefit analysis but then the goal becomes fixed even though the world is not fixed so it becomes like a fixed object in a flexible world. We need to have these unlesses which are kill criteria that tell us when we should stop right like in advance of the marathon well if I break a bone I'm gonna commit to everybody around me that I will stop running. This all combines into this really bad brew that causes goals themselves to stop us from quitting and that's why we need to make the goals more flexible.

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