Learnings Mental Models

The Switching Cost Mental Model: Avoiding the Trap of Irrational Decisions

Introduction In the realm of decision-making, our minds are subject to various cognitive biases and fallacies that can often lead us astray. One such powerful mental model is the concept of switching cost. Switching cost refers to the perceived or real expenses, both tangible and intangible, associated with changing from one option to another. These […]