Jan 15, 2017

Kahneman on Persistence

"I like changing my mind. Some people really don’t like it but, for me, changing my mind is a thrill. It’s an indication that I’m learning something. So I have no sunk costs in the sense that I can walk away from an idea that I’ve worked on for a year if I can see a better idea. It’s a good attitude for a researcher.

"The main track that young researchers fall into is sunk costs. They get to work on a project that doesn’t work and that is not promising but they keep at it. I think too much persistence can be bad for you in the intellectual world."

- Daniel Kahneman as quoted by Morgan Housel