<?xml version="1.0" encoding="UTF-8" standalone="yes"?><oembed><version><![CDATA[1.0]]></version><provider_name><![CDATA[Jason Collins blog]]></provider_name><provider_url><![CDATA[http://jasoncollins.blog]]></provider_url><author_name><![CDATA[Jason Collins]]></author_name><author_url><![CDATA[https://jasoncollins.blog/author/jasonacollins/]]></author_url><title><![CDATA[Ignore the sunk&nbsp;costs]]></title><type><![CDATA[link]]></type><html><![CDATA[<p>Edge has <a href="http://edge.org/conversation/on-kahneman" target="_blank">a great set of short notes</a> by various authors on how Daniel Kahneman has influenced them. It is worth flicking through them all, but excerpts from my two favourites are below.</p>
<p>First, some excellent advice via Jason Zweig:</p>
<blockquote><p>Anyone who has ever collaborated with him tells a version of this story: You go to sleep feeling that Danny and you had done important and incontestably good work that day. You wake up at a normal human hour, grab breakfast, and open your email. To your consternation, you see a string of emails from Danny, beginning around 2:30 a.m. The subject lines commence in worry, turn darker, and end around 5 a.m. expressing complete doubt about the previous day&#8217;s work.</p>
<p>You send an email asking when he can talk; you assume Danny must be asleep after staying up all night trashing the chapter. Your cellphone rings a few seconds later. &#8220;I think I figured out the problem,&#8221; says Danny, sounding remarkably chipper. &#8220;What do you think of this approach instead?&#8221;</p>
<p>The next thing you know, he sends a version so utterly transformed that it is unrecognizable: It begins differently, it ends differently, it incorporates anecdotes and evidence you never would have thought of, it draws on research that you&#8217;ve never heard of. If the earlier version was close to gold, this one is hewn out of something like diamond: The raw materials have all changed, but the same ideas are somehow illuminated with a sharper shift of brilliance.</p>
<p>The first time this happened, I was thunderstruck. <em>How did he do that? How could </em>anybody <em>do that? </em>When I asked Danny how he could start again as if we had never written an earlier draft, he said the words I&#8217;ve never forgotten: &#8220;I have no sunk costs.&#8221;</p></blockquote>
<p>Second, Eric Kandel (an 84 year-old Nobel laureate):</p>
<blockquote><p>Daniel Kahneman has not yet influenced my work on snails and mice, but I am only in an early point in my career and I still look forward to exploring his ideas in a molecular biological context in the future.</p></blockquote>
]]></html></oembed>