Richard Thaler, who helped create the research that has lasted to this day, helped you with the material. The thing that he really pushed me on was to sort of bring these things together into this umbrella concept that has to do with mental accounting. So what that means is like if I buy a stock at 50 and it goes to 75 and goes back down to 60 in my mental account, I'm in the losses,. That's not the way I experience it because I was at 75. And so we want to keep the account open so that we don't have to take those losses.
I recently sat down for a live event and Q&A with the great Annie Duke to discuss her new book, Quit: The power of knowing when to walk away. This episode is the audio from that event. Quit is all about how to develop a very particular skill: how to train your brain to make it easier to know which goals and plans are worth sticking to and which are not.
- Toronto Live Event: https://www.eventbrite.ca/e/how-minds-change-a-conversation-lab-with-david-mcraney-misha-glouberman-tickets-410047431907
- How Minds Change: www.davidmcraney.com/howmindschangehome
- Show Notes: www.youarenotsosmart.com
- Newsletter: https://davidmcraney.substack.com
- Annie Duke's Twitter: https://twitter.com/AnnieDuke