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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… - Annie Duke
" "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.
English
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Also Known As
Birth Name:
Anne LaBarr Lederer
Alternative Names:
Anne LaBarr Duke
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Annie Lederer
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Anne Lederer
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Additional quotes by Annie Duke
When we are in the losses, we are not only more likely to stick to a losing course of action, but also to double down. This tendency is called escalation of commitment. Escalation of commitment is robust and universal, occurring in individuals, organizations, and governmental entities. All of us tend to get stuck in courses of action once started, especially in the face of bad news. Escalation of commitment doesn't just occur in high-stakes situations. It also happens when the stakes are low, demonstrating the pervasiveness of the error.
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