Why Good Startups Fail: They Can’t Fire Bad Customers

"It’s always great to keep your options open, so the saying goes.

Funny enough, this advice only goes so far. But how do you know when to stop? It was something that Dr. Dan Ariely, a professor of behavioral economics at Massachusetts Institute of Technology wanted to get to the bottom of. His experiment explored how attached we are to unknown options and if we’re willing to let them vanish.

Students were asked to play a computer game that paid real cash once money was discovered behind closed doors. Once each player used up 100 allotted clicks, they could go to different rooms for higher payoffs, but it would cost them another click." Read more

Vitaliy Verbenko Helprace 15 Mar 2017