Rory Sutherland Rory Sutherland

Here’s a consumer tip, for what it’s worth

issue 20 July 2019
  • Comments

‘Suppose you bought a case of claret a few years ago for £20 a bottle. It now sells at auction for about £75. You have decided to drink a bottle. Which of the following best captures your feeling of the cost to you of drinking the bottle?
 
1. £0. I already paid for it.

GIF Image

Disagree with half of it, enjoy reading all of it

TRY 3 MONTHS FOR $5
Our magazine articles are for subscribers only. Start your 3-month trial today for just $5 and subscribe to more than one view

Read next

Trending

Lana Hempsall

The Motability scheme needs to be put into reverse

Keir Starmer’s government has taken some important first steps to bring the welfare budget under control. But expenditure on disability and incapacity benefits is still set to increase to almost £100 billion by the end of the decade, so more changes are needed. Every aspect of the welfare system must be examined to see if

More on economics

Also by Rory Sutherland

Latest

Comments

Join the debate for just £1 a month

Be part of the conversation with other Spectator readers by getting your first three months for £3.

Already a subscriber? Log in