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S E31: Investment - Upfront costs for future gains

Think Like An Economist

CHAPTER

The Opportunity Cost Principle

Cancel your netflicks account during that fortnight you've put aside to invest in getting something done. Tell your friends you can't meet them for after work drinks. Here we're using the opportunity cost principle. What would you be doing if not making these difficult investments? We'll make those other options unavailable, and you've reduced the opportunity cost. You know, lowering your temptation is actually really powerful. It can also help to constrain yourself.

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