• Table of Contents
    • Keywords
    • Article
      • Opportunity cost and choice
      • Other notions of cost
      • Opportunity cost and welfare norms
      • Opportunity cost and the choice among institutions
      • Summary
    • Bibliography
    • How to cite this article

opportunity cost

James M. Buchanan
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
Alternate versions available: 1987 Edition
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How to cite this article

Buchanan, James M. "opportunity cost." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 17 January 2018 <http://www.dictionaryofeconomics.com/article?id=pde2008_O000029> doi:10.1057/9780230226203.1222

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