Economics notes: Opportunity cost

The Economics of Strategic Opportunity

As emphasized by Barney (1986), any explanation of superior profitability must account for why the resources supporting such profitability could have been acquired for a price below their rent generating capacity. Building upon the literature in economics on coordination failures and incomplete markets, we suggest a framework for analyzing such strategic factor market inefficiencies. Our point ...

Notes for Economics 200c*

Cooperative vehicle routing problem: an opportunity for cost saving

In this paper, a novel methodology is proposed to solve a cooperative multi-depot vehicle routing problem. We establish a mathematical model for multi-owner VRP in which each owner (i.e. player) manages single or multiple depots. The basic idea consists of offering an option that owners cooperatively manage the VRP to save their costs. We present cooperative game theory techniques for cost savi...

Opportunity Cost Consideration

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MATHEMATICAL ECONOMICS Lecture Notes 1

1 I am especially grateful to Juergen Jung, Mike Treuden, and Nathaniel Throckmorton for their tremendous contributions to these notes. I also thank Michael Kaganovich and Eric Leeper for their guidance and for giving me the opportunity to develop and teach this course during graduate school. Several classes of Indiana and Auburn University graduate students provided suggestions and corrections...