OPPORTUNITY COSTS IN MANAGEMENT RESEARCH

The opportunity cost of using a resource to produce A is the maximum value foregone by not using it to produce B, C and so on. If a resource is entirely specific to one task and has no resale value, its use involves no opportunity cost and it is called a "free good". In management research...

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Bibliographic Details
Published in:Management decision 1973-05, Vol.11 (5), p.309-313
Main Author: Gee, Kenneth P
Format: Article
Language:English
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Summary:The opportunity cost of using a resource to produce A is the maximum value foregone by not using it to produce B, C and so on. If a resource is entirely specific to one task and has no resale value, its use involves no opportunity cost and it is called a "free good". In management research there are no free goods. The author jotted this sombre commentary while ostensibly discussing "Opportunities in Management Research" and will now illustrate it a little.
ISSN:0025-1747
1758-6070
DOI:10.1108/eb001030