Granularity, Time and Control of Economic Resources
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
|Date of creation:||01 Apr 1999|
|Date of revision:||01 Jun 2009|
|Contact details of provider:|| Web page: http://icf.som.yale.edu/|
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