I like his example of a 90% completed bridge. The owner still will disregard the sunk costs, but will see the decision as to whether to build a bridge for 10% of the normal cost. The response will be the same whether or not the builder has already committed money to the project or not.
-- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
