Let me ask the meaning of a phrase.

Please read the following.

Because we do not put rejected items out of our minds, we experience the disappointment of having our satisfaction with decisions reduced by all the options we considered but did not choose. In light of these negative effects of opportunity cost, which is the cost of the opportunity you lost by making one choice instead of another, we are tempted to ignore opportunity costs altogether in making decisions.

What I want to ask is whether the use of 'in light of' is appropriate in this context.

In a dictionary, 'in light of' makes the cause and effect relation with the main clause as following three examples.

• In light of this tragic event, we have cancelled the 4th of July celebrations.

• He rewrote the book in the light of further research.

• In light of the adverse effects of high fuel prices, additional efforts are needed in order to ensure progress.

Are you on my side with my point?

If not, can you tell me why?
The sentence beginning with the red "in light of" appears to me to be ungrammatical, or suffering from a copying error. Could you please double check it, as this will have a bearing on how one might answer your question. - A.
Yes your examples are correct.

Although the larger text you gave doesn't make a lot of sense.
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A Cornish PastyYes your examples are correct.
You're right. I misread it. Sorry.
your use of 'in light of' seems to work fine in that context, though that is a very crude definition of opportunity costs and i would disagree with your assessment of ignoring opportunity costs...