What is customary among ashkenazi jews for naming children?

The naming of a Jewish child is a most profound spiritual moment. The Sages say that naming a baby is a statement of her character, her specialness, and her path in life. For at the beginning of life we give a name, and at the end of life a "good name" is all we take with us. (see Talmud – Brachot 7b; Arizal – Sha'ar HaGilgulim 24b)

Further, the Talmud tells us that parents receive one-sixtieth of prophecy when picking a name. An angel comes to the parents and whispers the Jewish name that the new baby will embody.

Yet this still doesn't seem to help parents from agonizing over which name to pick!

So how do we choose a name? And why is the father's name traditionally not given to a son – e.g. Jacob Cohen Jr., Isaac Levy III? Can a boy be named after a female relative? Can the name be announced before the Bris?

Jewish Customs

Naming a Jewish baby is not only a statement of what we hope she will be, but also where she comes from.

Ashkenazi Jews have the custom of naming a child after a relative who has passed away. This keeps the name and memory alive, and in a metaphysical way forms a bond between the soul of the baby and the deceased relative. This is a great honor to the deceased, because its soul can achieve an elevation based on the good deeds of the namesake. The child, meanwhile, can be inspired by the good qualities of the deceased – and make a deep connection to the past. (Noam Elimelech - Bamidbar) from http://www.aish.com/jl/l/b/48961326.html

"choosing is refusing" means individuals face an opportunity cost with each decision they make. economists state that every decision involves trade-offs. opportunity cost is the least desirable alternative given up as a result of a decision.