1. T. W. Shultz,“The Value of the Ability to Deal with Disequilibria,”Journal of Economic Literature (September 1975).
2. Two different concepts were used to calculate opportunity cost. NDOCOST, Afeutral Decision OpportunityCOST, is based on the conventional concept of opportunity cost used by economists. DOCOST, Decision OpportunityCOST, is based on a rivalry-inertia theory of opportunity cost. For more information on the calculations, see the larger study cited above.
3. Victor Fuchs,“Self Employment and Labor Force Participation of Older Males,”Journal of Human Resources 17 (1982).