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Think Like a Quarterback, Not Like a General Manager

You can't always make the right decision—which means sometimes you've got to make the same decision twice: That didn't work. Walk away or double down?

Business is all about making decisions. How should we spend money? How should we deploy employees? Which items are priorities for this year, month, week and hour?


You can't always make the right decision, either—which means sometimes you've got to make the same decision twice: That bet didn't work. Do you walk away or double down?

It depends on what will happen in the future—not on what you've already sunk into the project.

James Surowiecki has a great, short piece over at The New Yorker on sunk costs—what you've paid for a decision that, in hindsight, wasn't a good decision. In this case, he's using the example of New York Jets quarterback Mark Sanchez.

The most intriguing aspect of sunk costs, as Arkes and others have documented, is that greater investment in a project increases people’s belief that it will succeed. That may help explain what happened last March, when the Jets gave Sanchez a contract extension that guaranteed his salary through 2013. Since Sanchez was already signed for two more years, and was coming off a mediocre season, the extension seemed peculiar to outside observers. But the Jets argued, and doubtless believed, that it was a smart way of locking up a young player. It was a classic case of what psychologists call the “escalation of commitment.”

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Quarterbacks are told to forget the interception they threw before and just move on with the game. What's the best choice on this play right now? General managers, on the other hand, fear being retroactively judged on their personnel decisions years after making them. But drafting and signing talent in all sports is tricky and everybody knows it. They'd be better off owning that and making forward-looking decisions.

Ah, well—at least Mark Sanchez comes away from all of this with something (er, in addition to several million dollars): His style of decision-making—if not necessarily the substance—is better than that of those who pay his salary.

Photo via Wikimedia Commons.

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via The Howard Stern Show / YouTube

Former Secretary of State, first lady, and winner of the popular vote in the 2016 presidential election, Hillary Clinton, sat own for an epic, two-and-a--half hour interview with Howard Stern on his SiriusXM show Wednesday.

She was there to promote "The Book of Gutsy Women," a book about heroic women co-written with her daughter, Chelsea Clinton.

In the far-reaching conversation, Clinton and the self-proclaimed "King of All Media" and, without a doubt, the best interviewer in America discussed everything from Donald Trump's inauguration to her sexuality.

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Offering parental leave for new fathers could help close the gender gap, removing the unfair "motherhood penalty" women receive for taking time off after giving birth. However, a new study finds that parental leave also has a pay gap. Men are less likely to take time off, however, when they do, they're more likely to get paid for it.

A survey of 2,966 men and women conducted by New America found that men are more likely to receive paid parental leave. Over half (52%) of fathers had fully paid parental leave, and 14% of fathers had partially paid parental leave. In comparison, 33% of mothers had fully paid parental leave and 19% had partially paid parental leave.

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Bans on plastic bags and straws can only go so far. Using disposable products, like grabbing a plastic fork when you're on the go, can be incredibly convenient. But these items also contribute to our growing plastic problem.

Fortunately, you can cut down on the amount of waste you produce by cutting down on disposable products. And even more fortunately, there are sustainable (and cute) replacements that won't damage the environment.

Coconut bowls


Cocostation

Who says sustainable can't also be stylish? These cute coconut bowls were handmade using reclaimed coconuts, making each piece one of a kind. Not only are they organic and biodegradable, but they're also durable, in case your dinner parties tend to get out of hand. The matching ebony wood spoons were polished with the same coconut oil as the bowls.

Cocostation Set of 2 Vietnamese Coconut Bowls and Spoons, $14.99; at Amazon

Solar powered phone charger

Dizaul

Why spend time looking around for an outlet when you can just harness the power of the sun? This solar powered phone charger will make sure your phone never dies as long as you can bask in the sun's rays. As an added bonus, this charger was made using eco-friendly silicone rubber. It's win-win all around.

Dizaul Solar Charger, 5000mAh Portable Solar Power Bank, $19.95; at Amazon, $19.95; at Amazon

Herb garden kit

Planter Pro

Put some green in your life with this herb planter. The kit comes with everything you need to get a garden growing, including a moisture meter that helps you determine if your herbs are getting the right amount of food to flourish. All the seeds included are certified to be non-GMO and non-hybrids, meaning you can have fresh, organic herbs right at your fingertips.

Planter Pro's Herb Garden Cedar Planter, $39.00; at Amazonedar Planter, $39.00; at Amazon

Reusable Keurig cups

K & J

Keurig cups are convenient, but they also create a ton of plastic waste. These Keurig-compatible plastic cups are an easy way to cut down on the amount of trash you create without cutting down on your caffeine. Additionally, you won't have to keep on buying K Cups, which means you'll be saving money and the environment.

K&J Reusable Filter Cups, $8.95 for a set of 4,; at Amazon

Low-flow shower head

Speakman

Low-flow water fixtures can cut down your water consumption, which saves you money while also saving one of the Earth's resources. This shower head was designed with a lighter flow in mind, which means you'll be able to cut down on water usage without feeling like you're cutting down on your shower.

Speakman Low Flow Shower Head, $14.58; at Amazon

Bamboo safety razor

Zomchi

Instead of throwing away a disposable razor every time you shave, invest in an eco-friendly, reusable one. This unisex shaver isn't just sustainable, it's also sharp-looking, which means it would make a great gift for the holidays.

Zomchi Safety Razor, $16.99; at Amazon

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