Enjoyment Value

Rain · January 2014

Ok, this is a random thought and may be the most crazy thing I've posted...which is saying something since I've posted pics of women with hairy pits. What brought this up was me thinking that I can buy a $60 game and finish it in three days, while I've been reading a $7 book for three weeks.. Anywho...I wonder if we can put a numerical value on things that provide us enjoyment. For instance, if I buy a $5 book and read it for one week, then does that provide more or less enjoyment then a $1,000 TV that I watch for three years? To keep it simple, I guess we would not break up in to hours how much each item was used. We have two numbers for each item (Item and Days)...so what formula do we want to use?

jd50ae · January 2014

Never mind....way too abstract thoughts.

variant2 · January 2014

No can do. Enjoyment is relative to the individual. If a $7 book provides a week of enjoyment, then our $7 cigars are at a huge disadvantage for only providing a single hour of enjoyment at the same expense.

raisindot · January 2014

Depends on how you define "value" and "enjoyment."

If a $7 book that you read in a week delivers knowledge, perspective, insights and somehow changes your life, isn't a better "value" than a $1,000 TV you spend 10 years on watching reality shows and FOX News (sorry cheap shot!

).

Ultimately, it depends on your personal definition of these terms. A $10 cigar may be very enjoyable (as may a $2 cigar), but what "value" does it bring to your life? Are you a better, smarter, more mature person because of it (maybe so). If you're religious, wouldn't a $3 Bible or Koran deliver far more greater spirit-enhancing value than a $60 shoot-em-up video game, even if you spent far more hours playing the game than reading the book?

It's all totally subjective. If and when the missiles launch, that box of 20-year old dried food rations you picked up at Costo ;ast year will be far more "valuable" than all your wife's gold jewelry.

perkinke · January 2014

raisindot:
Depends on how you define "value" and "enjoyment."

If a $7 book that you read in a week delivers knowledge, perspective, insights and somehow changes your life, isn't a better "value" than a $1,000 TV you spend 10 years on watching reality shows and FOX News (sorry cheap shot! ).

Ultimately, it depends on your personal definition of these terms. A $10 cigar may be very enjoyable (as may a $2 cigar), but what "value" does it bring to your life? Are you a better, smarter, more mature person because of it (maybe so). If you're religious, wouldn't a $3 Bible or Koran deliver far more greater spirit-enhancing value than a $60 shoot-em-up video game, even if you spent far more hours playing the game than reading the book?

It's all totally subjective. If and when the missiles launch, that box of 20-year old dried food rations you picked up at Costo ;ast year will be far more "valuable" than all your wife's gold jewelry.

Exactly. I'll drop a c-note on tickets and about the same on food, beer and travel to catch the Timbers home opener every year, but no chance I'll spend 300 on a video game system that I might have for several years. An afternoon with friends that can't be repeated is more valuable to me than something I might or might not dink around with for years. The older I get (and I'm only 36) the more I value experiences rather than adding clutter to my house.

Bob_Luken · January 2014

Rain:
Ok, this is a random thought and may be the most crazy thing I've posted...which is saying something since I've posted pics of women with hairy pits. What brought this up was me thinking that I can buy a $60 game and finish it in three days, while I've been reading a $7 book for three weeks.. Anywho...I wonder if we can put a numerical value on things that provide us enjoyment. For instance, if I buy a $5 book and read it for one week, then does that provide more or less enjoyment then a $1,000 TV that I watch for three years? To keep it simple, I guess we would not break up in to hours how much each item was used. We have two numbers for each item (Item and Days)...so what formula do we want to use?

I beg your pardon. Where might I see these hairy pits?

Rain · January 2014

clearlysuspect · January 2014

Isn't this the very premise of capitalism, supply and demand, at least in terms of leisure industries. If people enjoy it, they'll pay for it. If you're charging too much, people will stop coming. So you drop your prices and raise your prices accordingly.

Maybe I'm missing the point of the thread. I probably am.

clearlysuspect · January 2014

Rain:

Can I stick my hands in those things to keep them warm?

Rain · January 2014

There is no point to miss.

Gray4lines · January 2014

Not really capitalism... but this is called consumer theory in economics. It's where we get demand curves (marshallian and hicksian). Back to Randy's thought, can can break any item down to cost/time. What did you pay divided by how much you use it. That's easy and dollars and time are not subjective.

this is where the person to person comparison stops. You now get to each person's "preferences" (economists measure it in "utility") The absolute number does not matter as much as the ranking of preferences. I.e. I get 1, 000 units of enjoyment out of a cigar and 500 out of a pipe. So do I like a cigar twice as much? Not necessarily.

Gray4lines · January 2014

So Randy, your question isnt crazy... look up "consumer theory" or "utility" as it relates to economics. This is the framework for microeconomics

clearlysuspect · January 2014

We have two numbers for each item (Item and Days)...so what formula do we want to use? Alright. Here's my attempt:

e = Enjoyment Rating Single Day (0-10 scale)
d = Days actually used
t = Total time owned

{(e1+e2+e3+...)/d}t = Enjoyment Rating

That's all I have.

clearlysuspect · January 2014

Woops. Wrote that wrong. Should be:

{(e1+e2+e3+...)d}/t = Enjoyment Rating

Should have been multipled by days used and divided by total time owned.

clearlysuspect · January 2014

And we could also divide the entire result there by the highest possible score to make it more of a percentage of enjoyment, so why don't we make it look like:

{[(e1+e2+e3+...)d]/t}/10 = Enjoyment Rating

Bob_Luken · January 2014

Rain:

Thanks. Nice.......hair.

Puff_Dougie · January 2014

raisindot:
Depends on how you define "value" and "enjoyment."

If a $7 book that you read in a week delivers knowledge, perspective, insights and somehow changes your life, isn't a better "value" than a $1,000 TV you spend 10 years on watching reality shows and FOX News (sorry cheap shot! ).

Ultimately, it depends on your personal definition of these terms. A $10 cigar may be very enjoyable (as may a $2 cigar), but what "value" does it bring to your life? Are you a better, smarter, more mature person because of it (maybe so). If you're religious, wouldn't a $3 Bible or Koran deliver far more greater spirit-enhancing value than a $60 shoot-em-up video game, even if you spent far more hours playing the game than reading the book?

It's all totally subjective. If and when the missiles launch, that box of 20-year old dried food rations you picked up at Costo ;ast year will be far more "valuable" than all your wife's gold jewelry.

I agree with this. No mathematical formulation can capture the subjective elements that are wrapped up in the concept of "enjoyment."

Very thought-provoking post, though. And a tremendous pretext for bumping the hairy armpit picture! :^)

clearlysuspect · January 2014

clearlysuspect:
And we could also divide the entire result there by the highest possible score to make it more of a percentage of enjoyment, so why don't we make it look like:

{[(e1+e2+e3+...)d]/t}/10 = Enjoyment Rating

Nope. Just did an experiement on my co-worker Nick. He chose his cell phone. Last 3 days he rated it 10, 8, and 8. Result was 2.5. Each day (e) needs to be divided by 10, then added together.

clearlysuspect · January 2014

{[((e1/10)+(e2/10)+(e3/10)+...)d]/t}/10 = Enjoyment Rating

****Note. Days which you do not use the product will be included as an e = 0.

blutattoo · January 2014

Rain:

My eyes my eyes! Why would you do that. Im scarred for life.

New_Boots · January 2014

Far to open to interpretation if you ask me. That $7 book may be the pinnacle of my day today, but tomorrow I can't even read one page. However, that $60 video game is exactly what I need. I enjoy both...so....there's that.

Rain · January 2014

I would think, if not an exact number, we could get a median.

Gray4lines · January 2014

Rain:
I would think, if not an exact number, we could get a median.

That's sort of what a demand curve in a market is. Everyone has a willingness to pay for an item (which reveals preference) and the market's demand curve for an item is the summation of the WTP of all of the individuals.

Puff_Dougie · January 2014

Clearly, the answer is to be found in the Theory of Relativity...

E=mc2

Enjoyment = Money times Cigars squared

clearlysuspect · January 2014

Puff_Dougie, I like your equation better! LOL. I don't think that the equation that I offered above is a good idea for gauging how much to charge someone, but I do think it would be an effective tool to gauge one's own personal enjoyment and how much they would be willing to spend on items based on enjoyment. It would be a very long and extensive process though.