EconPapers    
Economics at your fingertips  
 

Know when to fold’em: The flip side of grit

Larbi Alaoui and Christian Fons-Rosen ()

European Economic Review, 2021, vol. 136, issue C

Abstract: 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 actual choice in a game of luck. Consistent with our priors, grittier individuals have a higher tendency to overplay, and tenacity alone captures the difficulty in respecting ex-ante preferences when this means accepting defeat. We then discuss the external validity of our findings.

Keywords: Noncognitive skills; Grit; Tenacity; Diligence (search for similar items in EconPapers)
JEL-codes: C91 D01 I20 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0014292121000891
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:eecrev:v:136:y:2021:i:c:s0014292121000891

DOI: 10.1016/j.euroecorev.2021.103736

Access Statistics for this article

European Economic Review is currently edited by T.S. Eicher, A. Imrohoroglu, E. Leeper, J. Oechssler and M. Pesendorfer

More articles in European Economic Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2022-10-01
Handle: RePEc:eee:eecrev:v:136:y:2021:i:c:s0014292121000891