Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Live2Sail who wrote (139044)	8/4/2008 4:59:24 PM
From: Smiling Bob	Read Replies (1) \| Respond to of 306849

Maybe he can help define this? Either that or we need to speak with the tribal chief. ---- *DJ Steve & Barry's Files "Stalking Horse" Agreement . (MORE TO FOLLOW) Dow Jones Newswires (201-938-5400) August 04, 2008 16:01 ET (20:01 GMT) Copyright (c) 2008 Dow Jones & Company, Inc.- - 04 01 PM EDT 08-04-08

To: Live2Sail who wrote (139044)	8/4/2008 5:12:25 PM
From: Perspective	Read Replies (1) \| Respond to of 306849

<economists have this model of the rational decision maker. That's obviously not the case in real life.> Yeah, no $hit. I have a number of perfect examples of this within my own personal life. Perfectly sane, very intelligent individuals who are completely incoherent when it comes to rational economic decision making. 1. At what rate do you "discount" your personal time? Nevermind what you are paid at the office - if there is a task you'd rather not do, how much per hour are you willing to pay someone else before you will suck it up and do it yourself? $10/hour? $25/hour? $100/hour? $250/hour? I can't even get an answer on this one. Not even a rough idea. And the actions indicate a complete lack of understanding of the concept. They'll pay someone $100 to dig a hole in their yard, but then spend an hour on the internet trying to shave $10 off an electronics purchase. (I guess manual labor is just really disgusting to some people?) 2. Comparison shopping for clothes, but then not bothering to even get a second quote on hiring cleaning help (which will be charged dozens of times over the next year). BC

To: Live2Sail who wrote (139044)	8/4/2008 5:18:52 PM
From: ChanceIs	Respond to of 306849

>>>So, no, there's no practical experience there. <<< I have seen this phenomena all throughout the US government. The government needs competent seasoned decision makers. They hire new grads and plug them in those slots. Doesn't mean that they are bad people. Its just the government. The FERC tends to have a lot of academics. They regulate trading when none has ever been on a trading floor. They are getting better about that. I will close by saying that the case is proven by Obama pitching a windfall profits tax while dumping the SPR. Having said that, does anybody want to wrestle with me on this????