Thinking of life in terms of opportunity cost.

[Punker]

Wrong. If you have time to post, you have time to open more tables.

[stigmata]

Yeah, I'm gonna hire a cleaner later this week, and I get my groceries delivered, but I still like walking the dog and going out for a meal. This way of thinking is pretty normal for people who earn a decent salary. Money does give you some extra freedom to make choices about your time.

[cursha]

So, whats the problem here.... well as far as I can make out, unless it provides more than $200 an hour then it clearly isnt worth doing.... logical conclusion.... play bigger tables...

if you up your games then you'll find there are even more things in life you are not worth doing for yourself...

In my 16 years as an online professional I have managed to get myself to a situation where I no longer do anything for myself. I am not even typing this, in fact, the tables I play on now make it not worth my while playing on the lower stake tables. I pay people to play for me, it would cost me far too much of my big table income to play on the lower tables....

I hope one day to not have to play at all, I feel that once I have everyone working for me on the tables, then the rakeback will keep me in the life to which I've become accustomed... ie sat on my solid gold throne, barking orders at minions.... I love my life... keep it going...

[stigmata]

[ QUOTE ]
So, whats the problem here.... well as far as I can make out, unless it provides more than $200 an hour then it clearly isnt worth doing.... logical conclusion.... play bigger tables...

if you up your games then you'll find there are even more things in life you are not worth doing for yourself...

In my 16 years as an online professional I have managed to get myself to a situation where I no longer do anything for myself. I am not even typing this, in fact, the tables I play on now make it not worth my while playing on the lower stake tables. I pay people to play for me, it would cost me far too much of my big table income to play on the lower tables....

I hope one day to not have to play at all, I feel that once I have everyone working for me on the tables, then the rakeback will keep me in the life to which I've become accustomed... ie sat on my solid gold throne, barking orders at minions.... I love my life... keep it going...

[/ QUOTE ]

Unfortunately, you describe the type of world we live in.

[sfer]

[ QUOTE ]
I have started to live life almost exclusively on the principle of opportunity cost.

[/ QUOTE ]

You're aware that economic theory presumes that everyone behaves this way?

[tek]

Everyone should have balance and variety in their lives. There is only so much ability to play your "A" game each day. Playing 18 hours a day will lead to high variance and burn out.

Negranau played noon-8 for many years and made enough cash and gained enough playing experience.

My car mechanic (and I've noticed other businesses) are starting to restrict their hours of operation, such as closing at 8PM and not working on weekends. The mechanic said if his shop can't make enough working 5 days a week, then screw it. There's other things to do than fix cars every single day...

[Evan]

[ QUOTE ]
[ QUOTE ]
I have started to live life almost exclusively on the principle of opportunity cost.

[/ QUOTE ]

You're aware that economic theory presumes that everyone behaves this way?

[/ QUOTE ]
Haha, I almost wrote exactly this post but I decided to check just to make sure no one else had. I got all the way to the end of the thread and you ruined my fun. [img]/images/graemlins/frown.gif[/img]

[hockey1]

I'm not an economist, but I believe your decision is incorrect because it does not accurately consider the full range of choices at issue. That is, you seem to be calculating everything in terms of poker winrate, but the trade-off isn't always X vs. poker. For example, it may be that you're deciding whether to spend $20 on a pizza versus cooking a meal that takes 30 minutes and costs $5. The trade-off isn't $15 vs. 30 minutes of poker, it's $15 versus the 30 minutes of time at the margin -- the least valuable 30 minutes of your day. That may be 30 minutes spent sleeping or vegging in front of the TV or whatever that you'd forego for $15. That's the opportunity cost (I think).

[aargh57]

In each of these examples (going to the video store, mowing your lawn, etc...) you always make the disclaimer that you "prefer to play poker at this time". Well, when you finally decide to sit down and veg in front of the T.V., listen to your radio, or whatever, you've made a decision that costs as much as your previous ones. I know, I know, you said that you still value your social life but that's the point. When you do something like turn in your movie or go to a different store to get a bargain you're actually making that $X.XX/hour that you would've missed on opportunity costs because at that time you don't feel like playing poker. This saves you doing it when you do feel like playing. Also, ask yourself if you actually do play extra by not doing these things.

[hockey1]

You keep saying "let's assume that I would prefer to play poker at the time." But that misses the point. The point is how much would you be willing to give up to shift your poker playing hours to another time? See my earlier post.