🚀 go-pugleaf

On Mar 15, 12:08 pm, Neil Cerutti <ne...@norwich.edu> wrote:
> On 2011-03-15, Cryptoengineer <pete...@gmail.com> wrote:
>
> > So, its 'save 840g' vs 'lose 3000g potential earnings'. Its no
> > contest.
>
> > Its just odd to see a pure economics concept such as
> > opportunity costs pop up in-game.
>
> That was an excellent example. Opportunity cost is a popularly
> ignored concept in the WoW economy. The urge to "match up" a
> gathering profession with a crafting profession helps promote
> this mistake. It is economically unwise to ignore the market
> value of those 15 copper ore you just mined when leveling up your
> blacksmithing, engineering, or jewelcrafting.

Yes, if you intend to sell the product, its important to make sure its
more expensive than its mats. Surprisingly often it is not. It's the
value of the cooldown that's the key factor in this case though. The
reason its so hard to buy a Truegold cooldown from an alchemist is
because of the opportunity cost.

There are other reasons to make things - the flasks I mention are
probably losses, but the guild needs them both for raiding, and the
achievement.

My current estimate is that I'll have to shell out around 32kg to get
the mats for the Vial of the Sands. My rule of thumb is to never let a
single purchase more than halve my bank balance, so it'll have to wait
till I have 64k, in 2-3 weeks (at 41k right now).

pt
.