Opportunity cost: A reexamination

@article{Parkin2016OpportunityCA,
  title={Opportunity cost: A reexamination},
  author={Michael Parkin},
  journal={The Journal of Economic Education},
  year={2016},
  volume={47},
  pages={12 - 22}
}
  • M. Parkin
  • Published 2 January 2016
  • Education
  • The Journal of Economic Education
That something is amiss with the profession's grasp of opportunity cost was signaled when Ferraro and Taylor (2005) confronted 199 economists and PhD students with the following multiple choice que... 
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Contemporary Debates on Opportunity Cost Theory and Pedagogy
Ferraro and Taylor’s (2005) finding that only 21.6% of economists could correctly answer a question on opportunity cost resulted in renewed debate over a fundamental concept. We review the lines of…
Opportunity cost and the intelligence of economists: A comment
In his interesting article, Professor Parkin contrasts forgone physical quantities with forgone values as measures of the opportunity cost of basic economic decisions. The impetus for his study stems…
Opportunity cost: A reply
My objective in reexamining opportunity cost was to draw attention to two conflicting definitions of the concept in current use and to argue the case for dropping one of them. The comments of Daniel…
Historical Cost and Conservatism Are Joint Adaptations That Help Identify Opportunity Cost
Abstract Braun (The ecological rationality of historical costs and conservatism. Accounting, Economics and Law: A Convivium, this issue) argues that the traditional accounting principles underlying…
COST, CONTEXT, AND DECISIONS IN HEALTH ECONOMICS AND HEALTH TECHNOLOGY ASSESSMENT
  • A. Culyer
  • Political Science, Medicine
    International Journal of Technology Assessment in Health Care
  • 2018
TLDR
The article explains that cost is more completely defined as opportunity cost, why cost is necessarily associated with a decision, and that it will always vary according to the context of that decision.
A techno-economic environmental cost model for Arctic shipping

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