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Which it is. Unless you would actually be getting paid for that time (which you wouldn't in most cases), the opportunity cost is $0.
by bigstrat2003 11mo ago
Which it is. Unless you would actually be getting paid for that time (which you wouldn't in most cases), the opportunity cost is $0.
- szundi 11mo ago[dead]
- wdb 11mo agoYou get paid in happiness of having and doing a hobby that brings peace and joy :))
- beng-nl 11mo agoWell said. I’m often nonplussed at these calculations of some fairly high hourly rate that we seemingly all should be able to command at will at anytime in unlimited supply. Well, I can’t.
- dragonwriter 11mo agoIf you would otherwise be doing anything with positive expected utility in that time, the opportunity cost is >$0. The fact that the analysis can be carried out in monetary units (because we don't have a good direct measure of utility) doesn't mean that receiving money itself is the only source of utility that needs to be considered.