is the "opportunity cost" (the value to a decision-maker of the next best alternative that is forgone when choosing something) the same as the shadow price?
If the concept of opportunity costs is valid, it still depends on your point of view. As I tell my students, the opportunity cost of their going to college differs from the opportunity cost to their parents of their going to college... And there's a difference between the social opportunity cost and that seen by an individual... -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
