“Coming up with a single, stupid explanation, failing to realize it is stupid, and then using it as an excuse to cease all further thought” is a very, very bad skill.
Thinking “well, but abandoning a sunk cost actually IS a negative future event” is smart IFF you then go “I’d be miserable for three days. How does that weigh against years spent in the program?”
It’s very, very bad, however, if you stop there and continue to spend 2 years on a PhD just because you don’t want to even THINK about those three days of misery.
I think understanding this dichotomy is critical. If you stop even thinking “well, but abandoning a sunk cost IS a negative future event” because you’re afraid of falling in to the trap of then avoiding all sunk costs, then you’re ignoring real negative consequences to your decisions.
“Coming up with explanations” is a good skill.
“Coming up with a single, stupid explanation, failing to realize it is stupid, and then using it as an excuse to cease all further thought” is a very, very bad skill.
Thinking “well, but abandoning a sunk cost actually IS a negative future event” is smart IFF you then go “I’d be miserable for three days. How does that weigh against years spent in the program?”
It’s very, very bad, however, if you stop there and continue to spend 2 years on a PhD just because you don’t want to even THINK about those three days of misery.
I think understanding this dichotomy is critical. If you stop even thinking “well, but abandoning a sunk cost IS a negative future event” because you’re afraid of falling in to the trap of then avoiding all sunk costs, then you’re ignoring real negative consequences to your decisions.