Discover and read the best of Twitter Threads about #OpportunityCost

Most recents (2)

#OpportunityCost is the aggregate net cost of doing something, vis a vis 'not doing it' at all.

The initial project, option & prospect of #Brexit came with huge opportunity costs, which were too easily pre-discounted as #ProjectFear. 1/
The initial #Leave case, dramatised by the #BorisBus, contended that UK could save its £350m pw #EU 'gross membership contribution' and pass that 'saving' straight to the #NHS - as 'additional funding'. 2/
The #Leave case focused on saving UK's #EU gross membership cost in favour of #NHS.

It ignored regular #EU annual contributions back into a multiplicity of UK projects, which would obviously be stopped, if we ceased membership.
Read 34 tweets
Alright, this is a big life decision I've been mulling over and need thoughts on. Should I switch to R (or Python?), or stick with Stata? I currently use Stata, and the main reason I see for switching is to improve replicability in research. /thread
Pros: simple, lots of stats packages, frequently used by economists
Cons: proprietary, limited data visualisation capabilities compared to R

Pros: Beautiful graphs, open source, better programming
Cons: more limited for common stats applications, I'd have to learn it
I think research, including mine, needs to become more open source and easily replicable. Fundamentally that requisites public code and an open source analysis package. Stata is more likely to lose easy replicability as new versions are updated.
Read 4 tweets

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