SmileyEH
01-24-2005, 04:09 PM
I was perusing a copy of Cosmo last night while watching the AFC Championship (yes, I'm that much of a badass), when I came across a story about Jessica Simpson and her personal assistant. It immediately dawned upon me that I need one as well.
Before I get to the fringe benefits I'm going straight to the math.
Let x be my hourly rate playing poker and y being the hypothetical rate paid to a personal assistant. Let t be the hours per day I spend doing useless [censored] that a personal assistant could easily accomplish.
For hiring a personal assistant to be +EV, my hourly rate playing poker must be greater than the hourly wage of a personal assistant (1), as uselss [censored] time (laundry, shopping, picking up mail etc. etc.) will be replaced by a 1:1 ratio with poker time.
(1) x - y > 0
It follows that my profit per day is (2).
(2) profit = (x - y)*t
However, complications arise in that a personal assistant may be less efficent conducting my errands, as well I will have to pay them while "waiting" to do things ie; laundry will consume 2 hours of assistant time while only 30 mins of Smiley time (bagging, loading, unloading, folding). This will be accounted for in the change of variables to t' for assistant time as a dimensionless coefecient e > 1 regarding the effeciency of said assistants work (3).
(3) t' = e*t
Accounting for the change in hours spent working results in a modification of (2), giving t' accounted profit equation (4).
(4) profit = x*t - y*t'
It follows that the substitution of (3) into (4) gives (5).
(5) profit = x*t- e*y*t
= t*(x - e*y)
This modified equation completely accounts for all monetary cost/benefit of hiring a personal assistant. It is clearly +EV when x - e*y > 0. However, this expression does not account for the addition of a "social good" arising from my less stressful lifestyle (or in the case of a losing streak, a more stressful lifestyle). We can assign the arbitrary constant G as a monetary value to increase (or decrease happiness) for this variable .
Therefore, the final profit/day equation (6) follows natuarally.
(6) profit = t*(x - e*y) + G
I suggest you plug in your own t, x, e, y and G and explore the rewards of the personal assistant option. I know I will.
-SmileyEH
Before I get to the fringe benefits I'm going straight to the math.
Let x be my hourly rate playing poker and y being the hypothetical rate paid to a personal assistant. Let t be the hours per day I spend doing useless [censored] that a personal assistant could easily accomplish.
For hiring a personal assistant to be +EV, my hourly rate playing poker must be greater than the hourly wage of a personal assistant (1), as uselss [censored] time (laundry, shopping, picking up mail etc. etc.) will be replaced by a 1:1 ratio with poker time.
(1) x - y > 0
It follows that my profit per day is (2).
(2) profit = (x - y)*t
However, complications arise in that a personal assistant may be less efficent conducting my errands, as well I will have to pay them while "waiting" to do things ie; laundry will consume 2 hours of assistant time while only 30 mins of Smiley time (bagging, loading, unloading, folding). This will be accounted for in the change of variables to t' for assistant time as a dimensionless coefecient e > 1 regarding the effeciency of said assistants work (3).
(3) t' = e*t
Accounting for the change in hours spent working results in a modification of (2), giving t' accounted profit equation (4).
(4) profit = x*t - y*t'
It follows that the substitution of (3) into (4) gives (5).
(5) profit = x*t- e*y*t
= t*(x - e*y)
This modified equation completely accounts for all monetary cost/benefit of hiring a personal assistant. It is clearly +EV when x - e*y > 0. However, this expression does not account for the addition of a "social good" arising from my less stressful lifestyle (or in the case of a losing streak, a more stressful lifestyle). We can assign the arbitrary constant G as a monetary value to increase (or decrease happiness) for this variable .
Therefore, the final profit/day equation (6) follows natuarally.
(6) profit = t*(x - e*y) + G
I suggest you plug in your own t, x, e, y and G and explore the rewards of the personal assistant option. I know I will.
-SmileyEH