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6min chapter
Mind Game: Nick Kokonas, "Know What Good Is"
The Golfer's Journal Podcast
Understanding Sunk Costs and Dynamic Pricing
This chapter examines the sunk cost fallacy and its impact on decision-making, particularly in business contexts such as software solutions and revenue management. It also explores the financial repercussions of no-show reservations in restaurants and on golf courses, while discussing the potential benefits of dynamic pricing strategies in adapting to changing consumer behaviors.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode