In the age of mobile phone apps, you'd think you'd be able to switch trains pretty much with three or four clicks on a mobile phone screen. So I'm just going to- Strangely, by the way, it's even like that on the Japanese bullet trains where there is a train leaving for Kyoto pretty much every five minutes. And they demand that you absolutely specify in advance which train you're going on. It induces this anxiety that you point out. But it's worse than an injustice. People would be happy to pay a little bit more for a more flexible ticket. The fact that they haven't been implemented suggests that maybe there's a cost to them that you and I
Author and Advertising Executive Rory Sutherland of Ogilvy talks about his book Alchemy with EconTalk host Russ Roberts. Sutherland makes the case for the magic (yes, magic!) of advertising and branding in helping markets work well. This is a wide-ranging conversation on consumer choice, public policy, travel, real estate, and corporate decision-making using insights from behavioral economics and decades of experience in the world of advertising.