In my interactions with fleet managers around minimum life-to-date costs and the sweet-spot curve (see “Sweet Spot Revisited”), two valid questions often arise: “How do I explain the concept, and how ...

Running a business demands that you keep a pulse on the financial factors that affect net profits. Two of those factors are accounting costs and economic costs. Although the two terms sound similar ...

I am confident that in today's constantly changing and dynamic business environment, simply selling a product or service is no longer sufficient. To truly stand out and build long-lasting ...

While I quit the field of economics many years ago to be a software entrepreneur—a decision I never regret, I like to think I still use my economics knowledge, math, and decision making logic every ...

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.

Deep sea oil drilling makes sense, economically. Deep sea wind farms do not, at the moment, but that’s not stopping energy giants from trying. This week a consortium led by Norwegian energy company ...