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Your search for "opportunity cost" over the entire article content within the 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015 and 2016 editions returned 267 results.

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1. opportunity cost

The concept of opportunity cost (or alternative cost) expresses the basic relationship between scarcity and choice. If no object or activity that is valued ...

By James M. Buchanan. From The New Palgrave Dictionary of Economics, Second Edition, 2008

2. cost–benefit analysis

Cost–benefit analysis (CBA) is a collection of methods and rules for assessing the social costs and benefits of alternative public policies. It promotes ...

By David L. Weimer. From The New Palgrave Dictionary of Economics, Second Edition, 2008

3. strikes

An economic strike is a suspension of production while workers and their employer argue about how to divide the surplus from their relationship. Modern ...

By John Kennan. From The New Palgrave Dictionary of Economics, Second Edition, 2008

4. reservation price and reservation demand

The simplest example of a reservation price is that price below which an owner will refuse to sell a particular object in an auction. Since the owner ...

By Ian Steedman. From The New Palgrave Dictionary of Economics, Second Edition, 2008

5. marginal and average cost pricing

Under perfect competition, marginal cost and average cost of a product are equal to each other and to its price, an arrangement that is Pareto-optimal ...

By William Vickrey. From The New Palgrave Dictionary of Economics, Second Edition, 2008

6. Novozhilov, Viktor Valentinovich (1892–1970)

Novozhilov was born in Khar'kov, and died in Leningrad. He was instrumental, along with the mathematician Leonid Vital'evich Kantorovich, in reviving ...

By Holland Hunter and Robert W. Campbell. From The New Palgrave Dictionary of Economics, Second Edition, 2008

7. egalitarianism

This article surveys a variety of egalitarian theories. We look at a series of different answers to the question of what the metric of justice should ...

By Harry Brighouse and Adam Swift. From The New Palgrave Dictionary of Economics, Second Edition, 2008

8. Wieser, Friedrich Freiherr, (Baron) von (1851–1926)

Wieser is commonly cited together with his senior, Carl Menger, and his exact contemporary, Eugen Böhm von Bawerk, as one of the founding trio of the ...

By E. Streissler. From The New Palgrave Dictionary of Economics, Second Edition, 2008

9. Coase, Ronald Harry (1910–2013)

Ronald Coase made seminal contributions to law and economics and to the theory of the firm, for which he received the 1991 Nobel Prize. ...

By Steven G. Medema. From The New Palgrave Dictionary of Economics, Second Edition, 2008

10. investment (neoclassical)

Investment is capital formation – the acquisition or creation of resources to be used in production. As such, it captures the production side of intertemporal ...

By Robert M. Coen, Robert Eisner, Francesca Rondina and Steven N. Durlauf. From The New Palgrave Dictionary of Economics, Second Edition, 2008