Optimal Quitting

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Opportunity cost refers to the gains one forfeits by choosing one option over another one. John A. List illustrates opportunity cost through the story of his failed golf career. After realising he would never be a pro golfer, he decided to shift gears and take up economics; it was a field he was skilled in and enjoyed. If he had chosen to be a golfer, he would have missed out on his teaching and consulting careers and a lot of publications, which are more important than being a lousy golfer. Read full article here

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