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Thinking and Deciding 19: Decisions About the Future

09/27/2013

Good reasons for sticking to plans

Other people rely on our stated plans, plans build up cumulatively in effectiveness, and breaking plans may lead to broken plans in the future as well.

Bad reasons for sticking to plans: Biases

Sunk cost fallacy, status quo bias (I have this one hardcore), commitment effect, and omission bias all can lead to staying with bad plans.

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