Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

In the last post, I discussed how looking at the same options from various perspectives can lead to making different choices. Particularly, I explored research that showed how individuals are often ...

Using Scarcity to Persuade and Influence The persuasive power of making something appear scarce, limited, or hard to obtain was first reviewed by Cialdini (2009). By surveying the scholarly research ...