Monday, July 24, 2023

Discussion 2: Incentives


                                                                                   Jordyn Neff

                                                                                   Discussion 2 


Prior to these slides, I had never heard of or thought about opportunity costs. I have heard about FOMO which is the fear of missing out but I have never thought about it as an opportunity cost. Now after learning about it, It makes a lot of sense.  I also feel like this relates to when you are choosing to miss out on things that could bring you happiness but you are choosing to make better choices. For example, if you are trying to go to the gym but your friends are going out for drinks. While you are at the gym you are missing out on having a good with your friends but you are choosing to improve yourself. There could come regret that comes with this as you are working on yourself and choosing to improve yourself. It's an opportunity to improve yourself but with that comes opportunity costs and things you're missing out on. 

1 comment:

  1. Hi Jordyn! I really like your analogy about how FOMO and opportunity costs can correlate. Being in college, there are a lot of times when you feel like you are missing out because you decide to put your education or health first. However, there is a bright side, and that is improving yourself and prioritizing.