Procurement trade-offs and support for conventional operations Opportunity costs 85 Support for conventional operations 90

Keyword(s):  
Author(s):  
Jan Abel Olsen

This chapter, the longest in the book, explains the fundamentals of microeconomics and its application to the analysis of health and healthcare. The concepts of scarcity and opportunity costs lie at the heart of the economics discipline. Based on the standard production function with two input factors, the important concept of cost-efficiency is explained; and based on the premise of scarcity in the availability of input factors, the concept of opportunity costs is explained. An important insight from consumer theory is that people make trade-offs. Their preferences and income determine their chosen combination of goods, as illustrated by an indifference curve. An important piece of information for policymakers attempting to intervene in people’s demand for healthy, and unhealthy, goods is to know how sensitive demand is to changing prices and income. The chapter explains and defines elasticities of demand.


Author(s):  
Lizbeth Vargas-Cabrera ◽  
Jesus Manuel Muñoz-Pacheco

This chapter proposes an analytical framework to understand the trade-offs of a firm dedicated to educational services for creating and sustaining a superior performance respect to its competitors. The proposed approach focuses on polytechnic universities as the firm understudy. Based on a statistical data from Mexican government, the five forces of Porter methodology is applied to found the clients, suppliers, new entrants, substitutes, and rivalry of the Polytechnic University of Puebla (PUP). In this scenario, the existing strengths are detected and the target of the firm to get a sustainable competitive advantage is defined. Finally, the strategies to break the barriers are proposed. The authors argue that by using those strategies the wedge between willing to pay of the clients and the opportunity costs of the suppliers can be improved. Additionally, they argue that the positioning (consolidation and reputation) of the PUP is achieved by applying the proposed strategies.


2020 ◽  
Vol 29 (1) ◽  
pp. 58-74
Author(s):  
Sherry Zaks

Given the increasing quantity and impressive placement of work on Bayesian process tracing, this approach has quickly become a frontier of qualitative research methods. Moreover, it has dominated the process-tracing modules at the Institute for Qualitative and Multi-Method Research (IQMR) and the American Political Science Association (APSA) meetings for over five years, rendering its impact even greater. Proponents of qualitative Bayesianism make a series of strong claims about its contributions and scope of inferential validity. Four claims stand out: (1) it enables causal inference from iterative research, (2) the sequence in which we evaluate evidence is irrelevant to inference, (3) it enables scholars to fully engage rival explanations, and (4) it prevents ad hoc hypothesizing and confirmation bias. Notwithstanding the stakes of these claims and breadth of traction this method has received, no one has systematically evaluated the promises, trade-offs, and limitations that accompany Bayesian process tracing. This article evaluates the extent to which the method lives up to the mission. Despite offering a useful framework for conducting iterative research, the current state of the method introduces more bias than it corrects for on numerous dimensions. The article concludes with an examination of the opportunity costs of learning Bayesian process tracing and a set of recommendations about how to push the field forward.


2020 ◽  
Vol 6 (50) ◽  
pp. eabb8428
Author(s):  
M. L. Pinsky ◽  
L. A. Rogers ◽  
J. W. Morley ◽  
T. L. Frölicher

Societies increasingly use multisector ocean planning as a tool to mitigate conflicts over space in the sea, but such plans can be highly sensitive to species redistribution driven by climate change or other factors. A key uncertainty is whether planning ahead for future species redistributions imposes high opportunity costs and sharp trade-offs against current ocean plans. Here, we use more than 10,000 projections for marine animals around North America to test the impact of climate-driven species redistributions on the ability of ocean plans to meet their goals. We show that planning for redistributions can substantially reduce exposure to risks from climate change with little additional area set aside and with few trade-offs against current ocean plan effectiveness. Networks of management areas are a key strategy. While climate change will severely disrupt many human activities, we find a strong benefit to proactively planning for long-term ocean change.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mark Rowe

Purpose This paper aims to examines the trade-offs that Small Island Developing States (SIDS) must make in navigating an inappropriate elite-driven global anti-money laundering anti-money laundering/countering the financing of terrorism (AML-CFT) order. This paper examines the case of Samoa, an under-researched Pacific Island nation. It is hoped that this paper will have a wider resonance for policymakers from other developing nations facing similar challenges. Design/methodology/approach It draws on the latest Samoan domestic source material and Asia/Pacific Group on Money Laundering Mutual Evaluation Reports to highlight the difficult balancing act that SIDS face in complying with complex global norms within their limited regulatory capacity and competing development priorities of financial inclusion and affordable remittance flows. Findings Samoa and other SIDS in balancing the existential risks of “blacklisting” with the significant regulatory opportunity costs of compliance undertake an expensive form of AML-CFT window-dressing. Policymakers need to be more sensitive to the needs and regulatory opportunity costs of small jurisdictions, particularly when questions about the effectiveness of the AML-CFT remain open. Research limitations/implications The author notes Samoa’s offshore center’s role in raising its risk profile. However, owing to this paper's limited scope offshore center (OFCs) will not be explored in depth. Further research is needed in this area. Originality/value There is a dearth of contemporary academic research into AML-CFT regulation in the South Pacific and Samoa specifically. This paper presents through its Samoan case study insights into the cost-benefit calculations that small jurisdictions must make in seeking to comply with elite global AML-CFT norms vis-à-vis competing policy goals such as financial inclusion and ready access to remittance flows.


Author(s):  
Elaine Hatfield ◽  
Richard L. Rapson ◽  
Jeanette Purvis

Marriage markets have existed since ancient times. Parents in traditional cultures routinely negotiate for the best deal possible. This fact is so taken for granted that when queried about “markets,” parents attempting to arrange such pairings have trouble even understanding the question. How could it be otherwise? In the West, for much of the past two centuries, young Romeos and Juliets have insisted they will marry for love. Is it possible that we are now coming full circle? People on websites are often eminently practical, using blatant metaphors of the marketplace. Advice books talk about selling yourself and creating your brand. They advise men and women to shop around, to realize there are always trade-offs, to do a cost-benefit analysis, and not to settle for damaged goods. Or they advise that it is wise to invest in a relationship before your market value plummets, and try to position yourself to optimize your romantic options, to be aware that there are opportunity costs in committing to the wrong partner. This chapter discusses market considerations in love.


2019 ◽  
Vol 46 (4) ◽  
pp. 251-260 ◽  
Author(s):  
Rute Pinto ◽  
Paula Antunes ◽  
Stefan Blumentrath ◽  
Roy Brouwer ◽  
Pedro Clemente ◽  
...  

SummarySpatial models are increasingly being used to target the most suitable areas for biodiversity conservation. This study investigates how the spatial tool Marxan with Zones (MARZONE) can be used to support the design of cost-effective biodiversity conservation policy. New in this study is the spatial analysis of the costs and effectiveness of different agro-environmental measures (AEMs) for habitat and biodiversity conservation in the Montado ecosystem in Portugal. A distinction is made between the financial costs paid to participating landowners and farmers for adopting AEMs and the broader economic opportunity costs of the corresponding land-use changes. Habitat and species conservation targets are furthermore defined interactively with the local government agency responsible for the management of protected areas, while the costs of agro-forestry activities and alternative land uses are estimated in direct consultation with local landowners. MARZONE identifies the spatial distribution of priority areas for conservation and the associated costs, some of which overlap with existing protected areas. These results provide useful insights into the trade-offs between nature conservation and the opportunity costs of protecting ecologically vulnerable areas, helping to improve current and future conservation policy design.


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