Cost of Convenience

Have you ever paid more just because you wanted the extra convenience? Today, I?? at a trade show and I noticed that there was a food stand inside the exhibitor?? hall. This place has prices that are 15% – 25% higher than the store across the street! The one across the street had more selections (same type of food), a shorter line up, and a very big sitting area with free internet access.

I walked across (initially for the exercise) and found out about this. I?? sure many people do not even know it was so much more expense inside the convention center. However, I wondered if people would still come if they knew? How many of you knowingly would pay extra for the little bit of convenience? In the example given, we are talking about 5 dollars for 3 minutes of walking.

I know most of you are probably thinking that you will of course take the 3 minutes of walking since rationally, it makes sense. However, I bet not many of us do this in reality! I see many people buy coffee, food at airports (again, for convenience since the airport food is 50% more than the same thing outside of the airport). We also always rent cars at car rentals inside the airport instead of other places, but they often charge a 15% tax on our rental.

What if it was not your money? Many people at the trade show will expense their trip expense, which means that they will be saving their company money instead of their own. How much does this change the picture?

I sometimes find myself spending time to look for a good airfare even though it?? really my company?? money I?? saving. Am I normal? Does my boss know or even care? (I hope he reads this blog)

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