Think Like An Economist

S E3: Core Principle 2 - The Opportunity Cost Principle - Or What?

Aug 18, 2020

17:50

Highlights

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Episode notes

Opportunity Cost Principle

01:02

The Opportunity Cost of Eating Doughnuts After Dinner

01:24

How Much Would You Like To Earn With An MBA?

01:28

The Cost Benefit Principle and the Opportunity Cost Principle

01:23

Introduction

2min

The Cost Benefit Principle and the Opportunity Cost Principle

1min

Opportunity Costs Are So Fundamental Decision Making

2min

The Cost Benefit Principle - What You Give Up to Get This Thing?

2min

How Much Will You Be Paying for Room, Board, Living Expenses?

2min

Is It Worth Doing the Mba?

2min

Ignore Sunk Costs

2min

Sunk Costs Aren't Opportunity Costs

1min

The Opportunity Cost Principle

3min

What would you do instead of taking that dream job? What would you eat for dinner instead of that burger? And how would you spend your lunch hour if not at the gym? Betsey Stevenson and Justin Wolfers get us to think about the next best alternative to anything, and how that can transform the decisions we make.

Co-host: Nastaran Tavakoli-Far. Editor: Alastair Elphick. A Modulated Media production.

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