benefit foregone

USAGE SUMMARY

The phrase "benefit foregone" is correct and usable in written English.
It can be used in contexts discussing opportunity costs or the loss of potential gain from other alternatives when one option is chosen over another. Example: "When considering the investment, we must evaluate the benefit foregone by not pursuing the alternative project."

✓ Grammatically correct

Science

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

3 human-written examples

As emphasised by Claxton it is important that an MCDA-based policy operating within a budget constraint respects the existence of opportunity costs, ensuring that any net benefit foregone from the expansion of the criteria on the effectiveness side (beyond QALYs) should be taken into account [53].

Health Economics Review

The term 'opportunity cost' describes the value of benefit foregone by undertaking a new activity.

Cancer Imaging

An opportunity cost is the benefit foregone by choosing one opportunity instead of the next best alternative.

Food and Agriculture Organization of the United Nations

Human-verified similar examples from authoritative sources

Similar Expressions

57 human-written examples

Delays in implementing CI at this stage are more likely to result in benefits foregone, in particular neonatal deaths and stillbirths.

Cost Effectiveness and Resource Allocation

In these cases, the reservation wage would overestimate the value of benefits foregone.

BMC Health Services Research

The opportunity cost consists of the benefits foregone due to spending time on a certain activity.

BMC Health Services Research

These measures require limited labour and require no foregone benefits but lead to substantially increased benefits within catchment populations.

Applied Water Science

It estimates foregone benefits for communities engaged in increasing carbon stocks in various dominant vegetation types.

Land Use Policy

However, when all the additional costs and foregone benefits of the project are considered, REDD+ is not an attractive market-based option for Nepalese CFUGs.

Journal of Environmental Management

However, the foregone benefits of faster economic growth--that is, the growth that could have been achieved if financial innovation had not been inhibited--are difficult to measure.

The Economist

In contrast to prior research [18],[19], our approach captures the opportunity costs of alternative management scenarios through time, including the foregone benefits linked to specific policy options.

Carbon Balance and Management

Expert writing Tips

Best practice

When discussing economic trade-offs or opportunity costs, use "benefit foregone" to clearly indicate what potential gain was sacrificed when making a specific decision.

Common error

Avoid using "benefit foregone" when describing direct expenses. "Benefit foregone" refers to the opportunity cost, not the money spent or resources used in a particular activity.

Linguistic Context

The phrase "benefit foregone" functions as a noun phrase typically used to describe the opportunity cost associated with a decision. Ludwig confirms this usage, highlighting contexts where potential gains are sacrificed due to a particular choice. It emphasizes the implicit cost of choosing one option over another.

Expression frequency: Rare

Frequent in

Science

66%

News & Media

22%

Formal & Business

12%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "benefit foregone" is a noun phrase used to describe the opportunity cost associated with a decision. As Ludwig indicates, it is a grammatically correct phrase, albeit less frequent, primarily found in scientific, economic, and formal contexts. When writing, remember that it refers to the implicit cost of not choosing the next best alternative, rather than a direct expense. While "benefit foregone" is a valid phrase, consider alternatives like "opportunity cost", "sacrificed gain", or "missed opportunity" depending on the context.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

opportunity cost

Replaces "benefit foregone" with the standard economic term for the value of the next best alternative.

sacrificed gain

Emphasizes the act of giving up a potential gain.

missed opportunity

Focuses on the lost chance to achieve a benefit.

alternative benefit relinquished

Highlights that another benefit was given up in favor of the current choice.

potential advantage lost

Underscores the loss of a possible advantage.

waived profit

Implies a deliberate decision to forgo a profit.

untapped potential

Suggests that a potential benefit remains unexploited.

surrendered advantage

Highlights the act of yielding a beneficial position.

unrealized gain

Focuses on the gain that was possible but did not materialize.

forsaken advantage

Stresses that a benefit was abandoned or rejected.

FAQs

What exactly does "benefit foregone" mean?

"Benefit foregone" refers to the potential gain or advantage that is given up when choosing one alternative over another. It's essentially the same as "opportunity cost".

How is "benefit foregone" different from a direct cost?

A direct cost is a tangible expense, while "benefit foregone" is the implied cost of not pursuing the next best alternative. One is an outflow of money; the other is a "missed opportunity".

Can you provide an example of "benefit foregone" in a business context?

If a company invests in Project A instead of Project B, the "benefit foregone" is the potential profit that could have been earned from Project B. It represents the "sacrificed gain".

Are there other ways to say "benefit foregone"?

Yes, you can use phrases like "opportunity cost", "sacrificed gain", or "missed opportunity" depending on the nuance you want to convey.