Espresso - Rory Sutherland on The Brilliance of "Thinking Fast and Slow" by Daniel Khaneman
HUNGRY.
00:00
The Psychology of Consumer Upgrades
This chapter explores how initial expenses impact consumer behavior, particularly the tendency to upgrade purchases. It discusses the 'sunk cost' mentality and its implications for marketing strategies, using examples like hotel upgrades and American Express.
Play episode from 08:02
Transcript
