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Good points. Theoretically, you're right, but I don't think it works that way practically. I'm not saying that my time is valueless. I'm just saying that whi
by aneesh 18y ago
Good points. Theoretically, you're right, but I don't think it works that way practically. I'm not saying that my time is valueless. I'm just saying that while I value it, there is no efficient way for anyone to compensate me for 6 minutes of my free time. There are too many fixed costs associated with employing someone for that person to get paid the true marginal value of their time.
"No, the marginal income (in dollars) is the smallest amount of dollars that you'd take to work for someone else for those 6 minutes."
Theoretically, yes. But try to find someone who will employ you for just 6 minutes. There's not that much liquidity in the job market (yet?).
- showerst 18y agoHehe fair enough =). I just wanted to make that point because I believe many people (although perhaps not many hacker news types) are likely to waste their time because (from a cold, unfeeling economics nerd perspective) we tend to undervalue it. Blowing 4 hours on the tube on for a CSI marathon becomes a lot less likely when you think of it as spending two-hundred bucks to be slightly entertained. It's an unhealthy way to make every decision, but still a bit underused in my opinion.
- thwarted 18y agoInteresting. How does Amazon Mechanical Turk fit into that? Maybe that "yet?" is sooner than we think.