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Old 07-17-2005, 09:03 PM
TStoneMBD TStoneMBD is offline
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Join Date: Jul 2004
Location: Rome, NY
Posts: 268
Default Re: Thinking of life in terms of opportunity cost.

i think that early in the stages of a players professional poker career they start analyzing everything compared to opportunity costs. i went through this phase myself. its natural to view things this way when learning to apply concepts such as equity, especially when the excitement of making the kind of money many poker players are making begins to happen.

as your poker career grows you may start to see that opportunity costs are not nearly as applicable as you had originally thought. a more applicable concept is the value of time. if your time is valued at $75/hr and someone else's time is valued at $7/hr, it generally makes little sense to spend your time doing something that the $7/hr person could do for you.

it may seem that these concepts are the same, or very similiar, but there are very distinct differences between the two.
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