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I try to apply a similar mental model to new purchases. It can be tempting to weigh all the pros and cons of different products and find out a detailed list of
by city17 4y ago
I try to apply a similar mental model to new purchases. It can be tempting to weigh all the pros and cons of different products and find out a detailed list of all the possible alternatives.
But often you just have to try a product to find out if it works for you. In that case it can help to think about what risk there is in just buying something that seems ok.
If you can return it easily, or if it doesn't lose much value in using and you can sell it used for 90% of the new price then there's no real downside to just making a quick decision.
Detailed analysis is only really worth it for more 'irreversible' purchases where it's either a big hassle to undo the purchase (buying a house) or there's a large cost (cars lose value quickly).
- lazide 4y agoWhat goods can you easily get 90% of the purchase price back? In my experience, unless you’re spending a lot of time and effort selling, 50-60% is the best you can hope for most of the time.