“So it’s still New York. People can’t give up on it. It’s what economists used to call the tyranny of sunk costs: once you’ve put so much time and money into a project, it gets hard to just eat your losses and walk. You are forced by the structure of the situation to throw good money after bad, grow obsessed, double down, escalate your commitment, and become a mad gibbering apartment dweller, unable to imagine leaving. You persevere unto death, a monomaniacal New Yorker to the end.”
