Claims

It's reasonable to assume that people will make the same decisions in hypothetical scenarios as they would have made in reality, so Altman wouldn't stay as a student in the 'Freaky Friday' scenario because he didn't in reality.

We are brilliant at rationalizing sunk costs and one major way we do this is by dramatizing how expensive it will be to tell other people we're ignoring sunk costs—for example, deciding to stay unhappy in a career for 10 more years because we fear breaking parents' hearts for an hour by telling them we hate being a lawyer.