Earlier quoted context omitted.
I meant it in a similar sense to that in which some hobbies are often irrational if you consider them only for market value. I probably could have chosen a better term. An amateur painter will often spend far more time than any reasonable estimation of the market value of that job would justify. Part of this is lack of efficiency and experience, but another part is doing things with sharply diminishing returns. For e…
> amateurs can easily arrive at a finished job (of painting, in this case) that they would never be able to convince themselves to pay market rate for. If you're looking at it from a economic standpoint, to be considered irrational, the tradeoff between the value of time vs the cost of hiring a professional would have to assume that the value of the time is greater than the value of the professional. I always hear th…
If you're looking at it from a economic standpoint, to be considered irrational, the tradeoff between the value of time vs the cost of hiring a professional would have to assume that the value of the time is greater than the value of the professional.
That’s an oversimplification, and not the argument I was attempting.For what it’s worth, I don’t think we are really disagreeing much.