'Sunk cost' diaporamas de présentation

Decision Theory in Practice

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Chapter 7

Chapter 7. The Cost of Production. Topics to be Discussed. Measuring Cost: Which Costs Matter? Cost in the Short Run Cost in the Long Run Long-Run Versus Short-Run Cost Curves. Topics to be Discussed. Production with Two Outputs--Economies of Scope

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ECON 100 Tutorial 7

ECON 100 Tutorial 7. Rob Pryce www.robpryce.co.uk/teaching. Question 1. Mankiw and Taylor, p.315. AR. AR. MR. Why does the marginal revenue curve lie below the average revenue curve?. Remember, competitive firms are price takers . They cannot affect market prices. MR = Price

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Practice of Capital Budgeting

Practice of Capital Budgeting. Finding the cash flows for use in the NPV calculations. Topics:. Incremental cash flows Real discount rates Equivalent annual cost. Incremental cash flows. Cash flows that occur because of undertaking the project Revenues and costs. Focus on the decision.

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Managerial Decision Making and Problem Solving

Managerial Decision Making and Problem Solving . Lecture Notes 2 Sensitivity Analysis. Introduction. Sensitivity analysis (or post-optimality analysis) is used to determine how the optimal solution is affected by changes, within specified ranges, in: the objective function coefficients

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Capital Budgeting Project Cash Flows and Risk

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Chapter 15 Replacement Decisions

Chapter 15 Replacement Decisions. Replacement Analysis Fundamentals Economic Service Life Replacement Analysis When Required Service is Long Replacement Analysis with Tax Consideration. Sunk cost : any past cost unaffected by any future decisions

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Innovation Process Management: Financial Pitfalls

Innovation Process Management: Financial Pitfalls. Velko Tzolov, Ph.D., MBA May 15, 2009. Agenda. Motivation Innovation Killers Misusing Discounted Cash Flow and Net Present Value Real Options Concept Fixed and Sunk Cost Bias Earning Per Share vs. Innovations: EVA Concept

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Chapter 21 Cost Minimization

Chapter 21 Cost Minimization Key Concept: Cost minimization implies isoquant and isocost are tangent to each other MP 1 (x 1 * ,x 2 * )/MP 2 (x 1 * ,x 2 * ) = w 1 /w 2 LR total cost curve is the lower envelope of the SR total cost curves. Chapter 21 Cost Minimization Break ? max to

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DECISION MAKING

DECISION MAKING. February 10, 2010. Decision-Making Styles. More information & Alternatives Overanalyze. Broader perspective Many alternatives Intuition & disc. Indecisive. Supportive Open to suggestions Wishy-washy Conflict Avoidant. Logical, systematic Action oriented

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Weird Ways People Think About Money

Weird Ways People Think About Money. People think about money in ways that make no sense to an economist. Some of these phenomena were already covered as motivation for the introduction of Prospect Theory (recall the examples of loss aversion).

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Sunk Cost and Marginal Cost

Sunk Cost and Marginal Cost. An Auction Experiment. Sunk Cost & Marginal Cost. What do you know about Sunk Cost and Marginal Cost ? ?. Sunk Cost & Marginal Cost. Sunk cost is the cost of a past act

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Explorations in Economics

Explorations in Economics. Alan B. Krueger & David A. Anderson. Chapter 3: Making Economic Decisions Module 7: Understanding Costs and Benefits Module 8: Rational Decision Making Module 9: Behavioral Economics: Decision Making in Practice. MODULE 7: Understanding Costs and Benefits.

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? th April,2005

? th April,2005. Today is Mother's day. The time now is 9:00. Mrs. So and her daughter-Kate are still waiting for a bus. So it is not worth for us to take by a taxi~. O~ My mum, don't you know the forgone value of time is a sunk cost.

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Measures Used for Comparison of Alternatives Equivalent Present Worth (PW) or NPW

Measures Used for Comparison of Alternatives Equivalent Present Worth (PW) or NPW Equivalent Future Worth (FW) or NFW Equivalent Annual Worth (AW) or EUAC Incremental Rate of Return ( ROR) Benefit-Cost Ratio (B/C) Payback Method. EGR 403, Jan 00.

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LESSON 1.3 Opportunity Cost and Choice

Objectives. LESSON 1.3 Opportunity Cost and Choice. Define opportunity cost. Evaluate guidelines for making choices. Analyze the opportunity cost of attending college. Key Terms. LESSON 1.3 Opportunity Cost and Choice. opportunity cost sunk cost. Opportunity Cost.

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