the.com/hidden costs
the price tag arrives after you've already fallen in love with the product.
means expenses baked into a decision that don't show up in the sticker price but you pay anyway, in money, time, or sanity.
from economists formalized it as part of transaction cost theory in the 1930s-60s, but the concept is as old as the first person who bought a horse and didn't budget for hay.
printer inkoften costs more per ounce than champagne
free appsyou are the product being sold
gym membershipsprofit from members who join but never come
economics termrelated to what economists call negative externalities
for instance
low airline fares — bags, seats, and printing boarding passes add 40-60% back on
free trial subscriptions — auto-renew after day 7, banking on you forgetting
cheap homes far out — commute costs eat the savings within 2-3 years
climate change — fossil fuels never billed the atmosphere cleanup fee