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Granularity, Time and Control of Economic Resources


  • Ramji Balakrishnan
  • Shyam Sunder
  • Shiva Sivaramakrishnan


Opportunity cost is a central concept in decision making. It is difficult to measure because it is the value associated with opportunities foregone. In this paper, we characterize three time-based dimensions of resources to help understand and estimate opportunity costs. These dimensions capture the intrinsic lumpiness of resources with respect to their acquisition (acquisition granularity), the extent to which they retain their usefulness over tim

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  • Ramji Balakrishnan & Shyam Sunder & Shiva Sivaramakrishnan, 1999. "Granularity, Time and Control of Economic Resources," Yale School of Management Working Papers ysm117, Yale School of Management, revised 01 Jun 2009.
  • Handle: RePEc:ysm:somwrk:ysm117

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    1. Lim, S.S. & Sunder, S., 1990. "Accuracy Of Linear Valuation Rules In Industry Segmented Environments: Industry Vs. Economy-Weighted Indexes," GSIA Working Papers 89-90-05, Carnegie Mellon University, Tepper School of Business.
    2. Lim, S.S. & Sunder, S., 1990. "Econometric Efficiency Of Asset Valuation Rules Under Price Movement And Measurement Errors," GSIA Working Papers 89-90-40, Carnegie Mellon University, Tepper School of Business.
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