Sunk

Sunk Costs and Market Structure bridges the gap between the new generation of game theoretic models that has dominated the industrial organization literature over the past ten years and the traditional empirical agenda of the subject as embodied in the structure-conduct-performance paradigm developed by Joe S. Bain and his successors.

Containing 258 pages, this is a tennents reference book on the loss of every British merchant ship sunk by German submarine in the great war.

This book, first published in 1982, brings together for the first time accounts of the fates of some of those extinct monsters of the seas – the battleships. It catalogues the sinkings of major ships from the Italian Re d’Italia in 1866 to the end of the battleship era and the rise of the carriers in World War II. The result is a valuable contribution to naval history as navies moved from the age of sail to the present day.

What is Sunk Cost In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with prospective costs, which are future costs that may be avoided if action is taken. In other words, a sunk cost is a sum paid in the past that is no longer relevant to decisions about the future. Even though economists argue that sunk costs are no longer relevant to future rational decision-making, people in everyday life often take previous expenditures in situations, such as repairing a car or house, into their future decisions regarding those properties. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Sunk cost Chapter 2: Cognitive bias Chapter 3: Daniel Kahneman Chapter 4: Amos Tversky Chapter 5: Behavioral economics Chapter 6: Prospect theory Chapter 7: Supply and demand Chapter 8: Managerial economics Chapter 9: Loss aversion Chapter 10: Status quo bias Chapter 11: Endowment effect Chapter 12: Richard Thaler Chapter 13: Planning fallacy Chapter 14: Mental accounting Chapter 15: Escalation of commitment Chapter 16: Disposition effect Chapter 17: Reference class forecasting Chapter 18: Heuristic (psychology) Chapter 19: Thinking, Fast and Slow Chapter 20: Cognitive bias mitigation Chapter 21: David Gal (II) Answering the public top questions about sunk cost. (III) Real world examples for the usage of sunk cost in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Sunk Cost.

March 1995 Exports respond unpredictably to a change in real exchange rates, suggests evidence from the 1980s. Recent theoretical work explains this as a consequence of the sunk costs associated with breaking into foreign markets. Sunk costs include the cost of packaging, upgrading product quality, establishing marketing channels, and accumulating information on demand sources. The authors use micro panel data to estimate a dynamic discrete-choice model of participation in export markets, a model derived from the Krugman-Baldwin sunk-cost hysteresis framework. Applying the model to data on manufacturing plants in Colombia (1981-89), they test for the presence of sunk entry costs and quantify the importance of those costs in explaining export patterns. The econometric results reject the hypothesis that sunk costs are zero. The results, which control for both observed and unobserved sources of plant heterogeneity, indicate that prior export market experience has a substantial effect on the probability of exporting, but its effect depreciates fairly quickly. The reentry costs of plants that have been out of the export market for a year are substantially lower than the costs of a first-time exporter. After a year out of the export market, however, the reentry costs are not significantly different from the entry costs. Plant characteristics are also associated with export behavior: large old plants owned by corporations are more likely to export than other plants. Variations in plant-level cost and demand conditions have much less effect on the profitability of exporting than variations in macroeconomic conditions and sunk costs do. It appears especially difficult to break into foreign markets during periods of world recession.

Gripping, real life stories of yachts lost at sea from the author of the bestselling Total Loss.

What happened to Japan’s submarines and what sort of fight did they put up? As far as Japan was concerned, the recent war was waged according to a rigid strategy. There was no detailed operational planning. It was a fight in which science had been ignored. In such circumstances the submarine, always highly vulnerable unless used intelligently, was inevitably sacrificed. Throughout the war the whole submarine fleet was in reality a special attack force in which, in the absence of scientific weapons, the crews were just so much human ammunition. Today we hear much about rearmament. If money is to be spent on armaments, it should be used for scientific development. Never again must we go to war with only a bamboo lance. The Japanese Submarine Fleet was entirely wiped out, but the martial spirits of its sailors are still with us on the far-flung oceans. In the Pacific, the Indian Ocean, and the Atlantic we remember the multitude of resentful sleeping warriors; in our ears we hear the whisper of the “voice from the bottom of the sea.” Thus, as one of the few submarine captains to survive, I have taken up my pen to try to record something of the unknown hardships and successes of our submarines. “Despite the gloomy conditions under which they worked, our submarines fought well, and the grim story of Japanese submarine units has been well recorded by former Lieutenant Commander Hashimoto. “It is certainly valuable material, and I wish to recommend it as an excellent history.”—S. Toyoda, Former C.-in-C., Combined Fleet, IJN