retrospective

(adjective)

Affecting or influencing past things; retroactive.

Examples of retrospective in the following topics:

  • Sunk Costs

    • Sunk costs are retrospective costs that cannot be recovered, and are therefore irrelevant to future investment decisions in the project which incurs them.
    • Sunk costs are retrospective costs that have already been incurred and cannot be recovered.
    • For example the research and development of a pharmaceutical are retrospective once it is time to market the product.
    • Therefore, the costs of R&D are considered sunk once they are retrospective and irrecoverable.
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