Are you wasting your time on Switching Costs?

3 min read

Switching costs might not be a term you are familiar with. And reading the words for the first time might not give you even a remote glimpse into their definition. Some people would think of the time it would take to switch anything: switch you car insurance, switch houses (move), switch partners (break-up and move on?), etc. But no, it has no real bearing on switching a concrete thing. Switching costs are associated with switching between task: having to direct and re-direct your attention. If you’ve read the book “Deep Work”, of which I’m not a massive fan because some…...

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Merle van den Akker Merle van den Akker is a PhD student in Behavioural Science, at the Warwick Business School. She studies the effect different payment methods, especially contactless and mobile methods, have on how e manage our personal finances. In her "free" time she writes articles on personal finance, behavioural science, behavioural finance and life as a PhD student, these are all published on Money on the Mind. With DDI, she writes on personal and behavioural finance, to ensure that knowledge from academia trickles into the mainsteam, and can help as many people as possible!