What about when people see you on the street and they shout at you and you keep walking as though you haven't heard them?

That is more the reliance on their part on a cognitive mechanism called "the cocktail party effect", where people in a crowded room can separate out their name even in a bunch of noise and clutter. People named "Will" don't really have this ability well-formed because "Will" is also a word that is very commonly used, especially in social settings, so we have learned often to ignore our name being said, even if the target has very sharp hearing.