Concept: thinking at the margin

From an economist’s perspective, making choices involves thinking ‘at the margin’ - that is, making decisions based on small changes in resources. Doing so leads to the optimal decisions being made, subject to preferences, resources and informational constraints.


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The Baby Shower

cost-benefit analysis | economics of crime | incentives | thinking at the margin

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The Opposite

sunk cost | thinking at the margin

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The Strike

sunk cost | thinking at the margin

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The Parking Garage

common resource | cost-benefit analysis | thinking at the margin