Word: cost-benefit
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...years, students have trooped to Louie’s to buy $20 30-racks of Busch Light and 10 dollar six-packs of Dos Equis. The prices were outrageous, but the conventional argument was that Louie’s incredibly convenient location was worth a premium. Cost-benefit analysis always gave Louie’s the one-up. Recently, however, Louie’s even more astronomical prices and the presence of other, more compelling choices for beverage-buying have made beer runs to Louie’s impossible to justify...
...Posner writes, “social control of science cannot be left to the scientists.” In challenging his readers to wade into the arcane debate over strangelet disasters, Posner brings particle physics to the masses. By framing cost-benefit calculations in lucid prose, Posner helps the non-economists among us make decisions in the face of unlikely but potentially earth-shattering risks...
...Posner writes, “social control of science cannot be left to the scientists.” In challenging his readers to wade into the arcane debate over strangelet disasters, Posner brings particle physics to the masses. By framing cost-benefit calculations in lucid prose, Posner helps the non-economists among us make decisions in the face of unlikely but potentially earth-shattering risks...
...Rwandans were just a cost-benefit equation...a statistic,” Power said. “Their institutional interest was saving the U.N., even when saving the U.N. meant pulling troops out of Rwanda...
Rosenthal’s letter is much more than a reminder that HUGHP will no longer cover retirees. It is also a reminder that Harvard is not above treating its employees according to the results of cold cost-benefit analyses. Unlike many other large employers, whose business is limited to making money, Harvard is in an ideal position to provide its workers with better health coverage than a look at the prices might support. It would seem less critical for the University to minimize risks to its balance sheet than risks to its former employees’ health...