Rigorous Reasoning

Concept · Foundations

Opportunity Cost

The value of the best alternative you give up when you choose one option over another.

Why it matters

Every decision has an opportunity cost, and ignoring it leads people to accept options that look good in isolation but are dominated by alternatives they failed to consider.

Where this shows up

Units and lessons using this concept

Following the links will take you to the page where this term is introduced in context.

Related

Other concepts in Foundations

A, E, I, O PropositionsAccessibility RelationArgumentAtomic StatementAuthorial IntentBase RateBayes FactorBurden of Proof in InterpretationCalibrationCardinalityCartesian ProductCategorical Proposition