Ep.177 I Deciding to Cut Ties…or Keep the Commitment: What Fuels Hard Decisions with Dr. Art Markman
How do you know if you’re being persistent or simply wasting your time?
Dr. Art Markman joins us to break down how our brains process disappointment, why we misjudge sunk costs, and how different personality types handle setbacks. Whether it’s a business decision, a personal goal, or even a high school football career you should’ve walked away from sooner, this conversation will help you fine-tune your ability to know when to keep going—and when to move on.
KEY TOPICS
- Why the “never quit” mindset can backfire—and when it’s smarter to walk away.
- How the sunk cost fallacy traps people in bad jobs, relationships, and investments.
- Why overcommitting to work can be a sign of misplaced priorities.
- How urgency changes decision-making (and what that means for business owners).
CHAPTERS
00:00 – Intro: Defeating Bad Decision-Making in Life & Business
00:49 – The Wildest Celebrity Family Secret?
05:42 – How Self-Awareness Saves You from Bad Choices
08:06 – Are You Setting Yourself Up for Disappointment?
12:54 – Regret vs. Disappointment: What’s the Difference?
15:17 – The Real Reason People Defend Bad Decisions
17:39 – When to Push Through vs. When to Quit
20:44 – The Sunk Cost Trap: Are You Stuck?
24:23 – How Tragedy Changes Our Beliefs Instantly
29:40 – Why Straight-A Students Struggle in the Real World
32:57 – The Key Skill That Determines Career Success
38:25 – The Most Underrated Advantage in Business
44:41 – What Motivates You? You Might Be Wrong
50:55 – The Secret to Making Better Financial Decisions
56:06 – The One Question to Ask Before Any Big Purchase
01:00:19 – Art’s Top Decision-Making Tip for Business Owners
01:01:30 – Where to Connect with Dr. Art Markman
01:02:10 – Key Takeaways
01:03:41 – Message from the Producer
SIGN UP FOR OUR FREE WEEKLY NEWSLETTER
CONNECT WITH US
Subscribe on YouTube
Join us on Instagram: @decidedlypodcast
Join us on Facebook
Shawn’s Instagram: @shawn_d_smith
Sanger’s Instagram: @sangersmith
Thank you to Shelby Peterson of Transcend Media for editingand post-production of the Decidedly podcast.
SANGER’S BOOK:A Life Rich with Significance: Transforming Your Wealth to Meaningful Impact
SHAWN’S BOOK: Plateau Jumping: What to Change When Change Is What You Want
MAKING A FINANCIAL DECISION?
At Decidedly Wealth Management, we focus on decision-making as the foundational element of success, in our effort to empower families to purposefully apply their wealth to fulfill their values and build a thriving legacy.
LEARN MORE: www.decidedlywealth.com
CONNECT WITH DR. ART MARKMAN
Two Guys on Your Head Podcast: https://open.spotify.com/show/4WzHJK1SzAryo21JonpZoY
LinkedIn: https://www.linkedin.com/in/art-markman-93aa6a22
Facebook:https://www.facebook.com/ArtMarkmanPhD/
X: @Abmarkman
Blog: https://www.psychologytoday.com/intl/blog/ulterior-motives
Art Markman is the Annabel Irion Worsham Centennial Professor of Psychology, Human Dimensions of Organizations, and Marketing and Senior Vice Provost for Academic Affairs at the University of Texas at Austin. He has written over 150 research papers on topics including reasoning, decision making, and motivation. He brings insights from cognitive science to a broader audience through his blogs at Psychology Today and Fast Company as well as his radio show/podcast Two Guys on Your head. He is the author of several books including Smart Thinking, Smart Change, Brain Briefs, and Bring Your Brain to Work.