Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why You Overpay for Convenience
In this episode of Behavioral Economics with Fexingo, Lucas and Luna explore the convenience premium—why we're willing to pay far more for the same product when it's easier to get. They dig into the psychology behind our tendency to overvalue time savings, from the classic example of a $2 bottle of water at an airport to the rise of 15-minute grocery delivery. Using the concept of opportunity cost, they explain why convenience feels so compelling, even when it's not rational. They also discuss how companies like Amazon have trained us to expect instant gratification, and how…
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