I know his name. I've been told to interview him. He crops up in the book because I always had this vague hunch that things like sunk cost bias and indeed loss of version. Under certain circumstances couldn't really be described as a bias because, first of all, evolution would have corrected them,. if they'd been that consistently bad. And so there's something there which is, if you think about it, then the avoidance of significant misfortunes are perfectly rational affair.
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.