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" "For reasons that are going to become clear, a good decision tool seeks to reduce the role of cognitive bias (such as overconfidence, hindsight bias, or confirmation bias) and a pros and cons list tends to amplify the role of bias.
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The real advice we should give people is more complicated than you can fit in a four-word slogan: Quit while you're ahead . . . when the game you are playing or the path you are on is a losing proposition. If you are in a situation that carries with it a negative expected value, by all means quit. But keep going when you have a positive expected value.