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563. How to Succeed at Failing, Part 3: Grit vs. Quit

Freakonomics Radio

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The Upside of Quitting: Grit vs. Quitting

In short, sometimes we give up because we're lazy, scared, or impatient. However, psychologist Duckworth suggests that we may benefit from developing perseverance. On the other hand, economist Levitt argues that quitting can be seen as a positive when we consider opportunity costs and the sunk cost fallacy. Economists suggest that these sunk costs are actually a distraction. So, should we tough it out or know when to quit?

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