The Freakonomics website with- The upside of quitting was interesting because it related to real world
examples and people giving out their own personal experiences. For instance, it touched sunk cost- past
cost and opportunity cost- future sacrifice, by showing that people who were successful as well had to
make a choice of quitting for a betterment. Examples were CEOS, Industrial Computer Programmer,
Navy Sealing Instructor, people in athletic, children, youngsters in market and academic, Rockstar and
many more, it said, that people tend to overstate the upside of quitting and thus unable to do so. Or
some do so, too early. It equally went on the aspect people make a list of their wants to select their
appropriate choices. Like the girl who was a prostitute made her decision to quit and now study
economics due to better chances and lower opportunity cost. And same goes with the professor who
started research again. It kind of said that to be able to get the best choice of the wants, people need to
and have dig deep enough of what they want and what not. It shows that economics and the cost
concept go for everyone even for big business-like apple to small business like the child care and linked
it, out of business to concept and decision in practice. Examples are religion case and the child and
parent relationship and quitting. For the child care part, I like the way the economist said,” easy money
is not so easy”. It goes with the concept that a choice is never easy to make. Hence, all his examples and
ideas show that sunk cost is gone and should be quit. Opportunity cost and wants need to be considered
seriously and for these a cost and benefit analysis is kind of the game. And the analysis shall help for the
best list of preferences.