Complexities in the Examination of Opportunity Cost

Autor/in	O'Donnell, Rod
Titel	Complexities in the Examination of Opportunity Cost
Quelle	In: Journal of Economic Education, 47 (2016) 1, S.26-31 (6 Seiten)Infoseite zur Zeitschrift PDF als Volltext Verfügbarkeit
Sprache	englisch
Dokumenttyp	gedruckt; online; Zeitschriftenaufsatz
ISSN	0022-0485
DOI	10.1080/00220485.2015.1106368
Schlagwörter	Stellungnahme; Costs; Economics; Textbooks; Economics Education + Suchen Sie Ihr Suchwort? Cost; Kosten; Volkswirtschaftslehre; Textbook; Text book; Schulbuch; Lehrbuch; Wirtschaftskunde
Abstract	Rod O'Donnell writes here that there is a wide and deep confusion in contemporary economics about the concept and role of opportunity cost (OC). O'Donnell states that his main grounds for making this claim are the muddled, variable, and sometimes conflicting treatments of OC in modern textbooks; the disturbing empirical results in surveys of both top economists and first-year students by Ferraro and Taylor (2005); and the unsatisfactory nature of most of the responses to the FT paper in published and unpublished discussion. O'Donnell states that he and Parkin are in broad agreement that confusion exists to a significant degree, that this is important for mainstream economics, and that it merits resolution. O'Donnell however finds himself unsatisfied with Parkin's diagnosis and cure and so offers a response which, while fully agreeing with the need for reexamination, is critical in relation to Parkin's contribution. O'Donnell restricts himself in this article to general, conceptual issues and to clarifications of some complexities. (ERIC).
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Erfasst von	ERIC (Education Resources Information Center), Washington, DC
Update	2020/1/01