[#151]
*breathes in*
I feel like I'm ready for the Econ midterm. I feel like I'm ready? That's a forgotten feeling.
I can't decide if this is good or bad. Feeling ready =/= being ready.
I keep wondering, though, it'd be nice if we knew our Utility functions (and as a bonus only consumed like 2 things), and Cost functions, and probabilities of events, and socially optimal solutions, etc. but most of those are usually the givens in the problem. They're not exactly given in life. Technically, your every single decision could be made for you by an economist if you'd only tell him (or her) all the necessary functions to manipulate. I guess that sort of thing works better in general terms for financial decisions of firms. Yeah, yeah, but it's the individual I'm concerned about here, darnit.
I guess the best we've got for now is our feelings. So- decide with your head if enough information exists but mostly go with your heart? :P Hmm, the invisible hand heart of personal markets. Seriously though, we do do that kind of stuff every day- deciding whether the price of something is less or equal to the enjoyment you'll get out of it & consequently buying or not buying it. Hence, you know, I said to
jack_magic the other week "I don't care how much I pay for [the Deathly Hallows]" and she agreed >.> [Edit: Ooh, exactly 2 months left from today]
p.s. SUSAN, MY ECON PROFS BARELY MENTION MC=MR :( IT MAKES ME SAD. P=MC is more popular with them.
I feel like I'm ready for the Econ midterm. I feel like I'm ready? That's a forgotten feeling.
I can't decide if this is good or bad. Feeling ready =/= being ready.
I keep wondering, though, it'd be nice if we knew our Utility functions (and as a bonus only consumed like 2 things), and Cost functions, and probabilities of events, and socially optimal solutions, etc. but most of those are usually the givens in the problem. They're not exactly given in life. Technically, your every single decision could be made for you by an economist if you'd only tell him (or her) all the necessary functions to manipulate. I guess that sort of thing works better in general terms for financial decisions of firms. Yeah, yeah, but it's the individual I'm concerned about here, darnit.
I guess the best we've got for now is our feelings. So- decide with your head if enough information exists but mostly go with your heart? :P Hmm, the invisible hand heart of personal markets. Seriously though, we do do that kind of stuff every day- deciding whether the price of something is less or equal to the enjoyment you'll get out of it & consequently buying or not buying it. Hence, you know, I said to
jack_magic the other week "I don't care how much I pay for [the Deathly Hallows]" and she agreed >.> [Edit: Ooh, exactly 2 months left from today]
p.s. SUSAN, MY ECON PROFS BARELY MENTION MC=MR :( IT MAKES ME SAD. P=MC is more popular with them.