Know when to fold’em: The flip side of grit
Author: Alaoui, Larbi; Fons-Rosen, Christian Description: This paper investigates the way different sides of grit influence behavior. In addition to grit’s upside in achieving economic success associated with not giving up, it might also have a downside associated with not letting go. We split grit into two new categories, tenacity and diligence, and hypothesize that tenacity can lead individuals to go beyond their own intended plan of action when making a loss. We test the predictions with an experiment that elicits each individual’s plan of action which we compare to…
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