Author Don Thompson on his latest art market book, The Orange Balloon Dog

In this week's episode of the ArtTactic Podcast, Don Thompson, economist and professor of marketing and strategy at the Schulich School of Business at York University in Toronto, joins us to discuss his brand new book, The Orange Balloon Dog: Bubbles, Turmoil and Avarice in the Contemporary Art Market. First, Don discusses the significance of Jeff Koons' Orange Balloon Dog, which appears in the title of his book, and why the sale of it exemplifies some of the key concepts in his book. Then, he discusses the idea of nudging, a behavioral science concept made famous by Richard Thaler, and how it manifests itself in the art market. Also, Don explains why he believes a bubble is brewing in the current contemporary art market. Lastly, Don speaks with us on the significance of the Leonardo da Vinci Salvator Mundi painting upcoming for auction this week in Christie's Post-War and Contemporary sale.