Uploaded April 2026 | Updated September 2026, 1 week ago

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Katy Milkman speaks with Richard Thaler, economics Nobel laureate and Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. Thaler reveals why we tend to dwell on sunk costs that cannot be recovered and shares insights from his updated book The Winner's Curse: Behavioral Economics Anomalies, Then and Now.

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