Opportunity Cost
We think of our opportunity cost if we decide to do something, fearing it is hampering our options and time, so we stay in limbo unable to decide on what to do.
Life is meant to be an experience, not something you plan and keep doing repeatedly.
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Similar ideas to Opportunity Cost
Opportunity Cost
Saying 'yes' to something automatically means saying 'no' to other possibilities. This is known as Opportunity Cost. It translates into the potential benefits that we miss by choosing one option over another.
Subconsciously we are aware that we can't do everything we want ...
The "Opportunity Cost" mindset
Opportunity cost is the loss of potential gain from other choices when one alternative is chosen.
Every time you decide to buy something, you choose to lose out on investing that money. If you buy a brand new car you don't need for $30,000, you're missing out ...
Overestimating Opportunity Cost
Certain external constraints make us overestimate the opportunity cost, as we start to imagine all the foregone options as a missed opportunity and start to see the situation irrationally. This can cause a negative emotional and psychological reaction, like regret.
The opportunity cost i...
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