Times: Dan Ariely suggests accept the loss and close your options

Fascinating research that concludes, "the mechanism underlying the tendency to keep doors open is a type of aversion to loss rather than a desire for flexibility."

The Advantages of Closing a Few Doors

By JOHN TIERNEY

We can always tell ourselves that it’s good to keep options open, but is it really?

The book:

"Predictably Irrational: The Hidden Forces That Shape Our Decisions." Dan Ariely. HarperCollins, 2008.

The research paper:

"Keeping Doors Open: The Effect of Unavailability on Incentives to Keep Options Viable." Jiwoong Shin, Dan Ariely. Management Science, May 2004. (PDF)

[repost from 2/09]