Memberships and subscriptions
Sunk Cost Fallacy
Knowing the sunk cost fallacy can help you evaluate the ongoing value of memberships and subscriptions, without being influenced by the time or money already spent.
Similar Situations
Decoy Effect
Fitness memberships: Recognizing the decoy effect can help you choose the best gym or fitness membership for your needs, without being swayed by less attractive alternatives.
Osborne Effect
Software subscription services: Strategically timing feature announcements to maintain user interest without causing cancellations or delayed subscriptions.
Three R's of Growth
Subscription Service: Retain customers by offering tailored packages or exclusive content, ask satisfied subscribers to refer their friends, and highlight positive reviews on your website to attract new users.
Dunbar's Number
Club or organization membership: Joining smaller clubs or organizations can facilitate stronger connections and a greater sense of belonging.
Barnum Effect
Personality tests: Understand that some tests use vague or generic descriptions, and focus on more reliable sources for self-improvement.
DunningâKruger Effect
First Aid & Emergency Situations: Those who think they "know what to do" without proper training may make dangerous mistakes. Recognizing this can encourage taking certified first-aid courses.
Pain vs Boredom Experiment
Education and Learning: Continuously expanding one's knowledge and skills to prevent stagnation and boredom.
Checker Shadow Illusion
Painting and Drawing: Creating depth and realism by understanding how light and shadows affect color perception.
Five Love Languages
Teaching and Mentoring: Connecting with students or mentees by understanding and incorporating their love languages in teaching and guidance.
Ikigai
Hobbies and interests: Exploring your Ikigai can help you develop hobbies and interests that bring meaning and joy to your life.