How Convenience Becomes Rent
Convenience is usually priced as a one-time decision but delivered as an ongoing obligation; the moment you stop owning the capability yourself, you begin renting it indefinitely.
The useful part
Just know what you're renting.
Sources behind this episode
- peer-reviewed theoretical economics paperData portability, data disclosure and data-induced switching costs: Some unintended consequences of the General Data Protection Regulation
- peer-reviewed meta-analysisWhen and why defaults influence decisions: a meta-analysis of default effects
- peer-reviewed study with cross-sectional and small longitudinal componentsHabitual use of GPS negatively impacts spatial memory during self-guided navigation
- peer-reviewed economics overview articleCompetition when Consumers have Switching Costs: An Overview with Applications to Industrial Organization, Macroeconomics, and International Trade
- randomized field experiment, working paperSophisticated Consumers with Inertia: Long-Term Implications from a Large-Scale Field Experiment
- handbook review chapterCoordination and Lock-In: Competition with Switching Costs and Network Effects
- market research survey reported in trade pressConsumers spend $133 more monthly on subscriptions than they realize, study shows
More in Behavior
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