New calculations
11-27-12, 08:52 PM
#1
Senior Member
Thread Starter
Join Date: Apr 2008
Location: Odenton, MD
Posts: 660
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
New calculations
With all the cost-benefit analysis on this board about costs, energy, food and transportation... I find this relevant.
https://what-if.xkcd.com/22/
https://what-if.xkcd.com/22/
11-28-12, 06:02 AM
#2
Membership Not Required
Join Date: Jan 2005
Location: On the road-USA
Posts: 16,855
Bikes: Giant Excursion, Raleigh Sports, Raleigh R.S.W. Compact, Motobecane? and about 20 more! OMG
Mentioned: 5 Post(s)
Tagged: 0 Thread(s)
Quoted: 70 Post(s)
Likes: 0
Liked 15 Times
in
14 Posts
Nice!
Aaron
Aaron
__________________
Webshots is bailing out, if you find any of my posts with corrupt picture files and want to see them corrected please let me know. :(
ISO: A late 1980's Giant Iguana MTB frameset (or complete bike) 23" Red with yellow graphics.
"Cycling should be a way of life, not a hobby.
RIDE, YOU FOOL, RIDE!"_Nicodemus
"Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred
Which one would you rather have under your butt at 30mph?"_krazygluon
Webshots is bailing out, if you find any of my posts with corrupt picture files and want to see them corrected please let me know. :(
ISO: A late 1980's Giant Iguana MTB frameset (or complete bike) 23" Red with yellow graphics.
"Cycling should be a way of life, not a hobby.
RIDE, YOU FOOL, RIDE!"_Nicodemus
"Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred
Which one would you rather have under your butt at 30mph?"_krazygluon
11-28-12, 10:19 PM
#3
In the right lane
If your time is worth $10 an hour, a penny is worth 3.6 seconds. If spotting and picking up a penny takes you more than 3.6 seconds, it’s a loss.
11-29-12, 12:14 PM
#4
Humvee of bikes =Worksman
Join Date: May 2004
Posts: 5,362
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 10 Post(s)
Likes: 0
Liked 6 Times
in
6 Posts
This just goes to prove that "value/cost" is not about the pure money aspect of anything. There will always be other considerations involved.
__________________
My preferred bicycle brand is.......WORKSMAN CYCLES
I dislike clipless pedals on any city bike since I feel they are unsafe.
Originally Posted by krazygluon
Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?
My preferred bicycle brand is.......WORKSMAN CYCLES
I dislike clipless pedals on any city bike since I feel they are unsafe.
Originally Posted by krazygluon
Steel: nearly a thousand years of metallurgical development
Aluminum: barely a hundred, which one would you rather have under your butt at 30mph?
11-29-12, 01:25 PM
#5
Senior Member
Join Date: Aug 2007
Location: British Columbia, Canada
Posts: 2,206
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 4 Post(s)
Likes: 0
Liked 1 Time
in
1 Post
My work time has a monetary value, which is the value my employer (or my clients if I provide a freelance product or service) will pay me for that time. My personal time has no monetary value. It may have a personal value for me, but that value cannot be calculated in terms of dollars and cents. If I choose to use my personal time for a money-making project or an additional job, the time will have a monetary value, but if I spend that time relaxing, learning, helping others, meditating or thinking, the dollar value is zero.
Because my personal time is limited, I treasure it highly, but I cannot set a price on it. And that is where some of these calculations fall short. There is one method used to calculate the dollar value things which can be bought and sold. But not everything can or should have a price tag.
Because my personal time is limited, I treasure it highly, but I cannot set a price on it. And that is where some of these calculations fall short. There is one method used to calculate the dollar value things which can be bought and sold. But not everything can or should have a price tag.
11-29-12, 02:02 PM
#6
Senior Member
Join Date: Apr 2011
Location: Alpharetta, GA
Posts: 15,280
Bikes: Nashbar Road
Mentioned: 71 Post(s)
Tagged: 0 Thread(s)
Quoted: 2934 Post(s)
Liked 341 Times
in
228 Posts
Time is the one thing that we can't replace - once that second has passed, you can't get it back. You can't replace it with another one even by adding a second to your life expectancy, since that second at 90 won't be as pleasant and vibrant as my seconds right now are. So I agree that my time is one of my most valued possessions. But I can't honestly say that I'm unable to put a price on personal time.
I work full time for a given salary; if my personal time was truly priceless in comparison I'd find part-time work that would entail the fewest hours to maintain survival for me and my family (or even an additional requirement). But I don't, and frankly I'd work even more hours if the pay was enough higher. So therefore, I value my time monetarily at something less than the difference between part time and full time compensation divided by the difference in hours worked. Psychologically, if not entirely rationally, the value of time goes up the more comfortable that I am financially.
I think that the logic can be generalized for any rationally behaving person, regardless of the individual's personal marginal value of a dollar.
I work full time for a given salary; if my personal time was truly priceless in comparison I'd find part-time work that would entail the fewest hours to maintain survival for me and my family (or even an additional requirement). But I don't, and frankly I'd work even more hours if the pay was enough higher. So therefore, I value my time monetarily at something less than the difference between part time and full time compensation divided by the difference in hours worked. Psychologically, if not entirely rationally, the value of time goes up the more comfortable that I am financially.
I think that the logic can be generalized for any rationally behaving person, regardless of the individual's personal marginal value of a dollar.
