I constantly struggle with the dilemma of sunk costs. It seems counter-intuitive to abandon a project or idea after having invested a lot of time, passion and energy. The Great Wiki explains that humans are inherently loss aversive and thus normally act irrationally when making economic decisions.
But it’s just not that easy to exchange our rose-coloured glasses with sharply focused economic lenses. If we always follow rational decision theory we give up our irrational hopes and dreams, the stuff that keeps us motivated to try new things.
The point of no return is different for everyone. But sometimes going forward is at the expense of moving sideways.
And if this mixed metaphor couldn’t get anymore confusing … how can you tell if you’ve just hit a bump in the road or if you’re spinning your wheels?
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Let the comments begin! Many thanks to Daisyfae, djbeat, Penfold, Lo,TG, Somnambulist and Stinkypaw for their dirty and literary thoughts on Sticky Books.
logically, we are told to assess status from where we are NOW, and assess what it will take to get to our destination from HERE.
emotionally? *snort* yeah. right.
but it’s good to take a fresh look, see what obstacles lie ahead (not looking back at what you’ve already tackled) and see if further investment makes sense…
good luck! sometimes? it gets down to a simple gut check…
I’m logically looking at the THERE and THEN from HERE and NOW but you’re absolutely right … I’ve never been wrong when I listened to my gut instinct. Or I may just need a cocktail …
If only I could understand a word of that …. still, I’ve always fancied living on a narrow boat [or a barge] – not necessarily that one though ……
PS – If you want any advice on being irrational just drop me a line ….. I’m a font ……..
Rational judgement is probably overrated anyway. But I always thought you were more of a Times New Roman than a sans serif …
Steady on tNb, DP’s only just got to grips with joined up writing.
I’d say it’s always tricky to know whether to go with the flow or stem the tide. And those people definitely need a life belt.
I’ve always believed in going with the flow unless, of course, the flow is headed towards a swirling drain …
Trying new things is admirable but knowing when to quit is where the true mark of intellect lies.
Just look at DP and his blogging ‘career’…
(PS I have a crush on you)
A blogger never quits and a quitter never blogs?
PS I’ve seen you watching me …
sounds more like stalking…….
and @ Penfold – he careered way out of control some time ago.
My emotions run this show a lot more than my rational self, thank GOd for Hubby he’s as rational as a Vulcan! beh… good combo or what they call “equilibrium”…
Definitely a good combo!
I’ve always thought if you’ve been over the same spot in the road more than a couple of times and there’s still a bump in it, you need a new steam-roller.
I’ve cut more losses than I can possibly imagine (quite a lot of them belonging to other people). It’s always got a tinge of emotion attached, and it always feels better the next day. The point of doing it is regardless of whether it’s a bump or a wheel-spin or a metaphorical pile-up, you still retain sufficient resources to continue the journey
One way or the other, it always feels good to make a decision. Think I’m close to figuring out this fork in the river … um, garden path … er, yellow brick road … um, well you get the idea.
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