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Article #340788Re: In which I learn about Opportunity Costs....
From: Neil Cerutti
Date: Tue, 15 Mar 2011 16:08
Date: Tue, 15 Mar 2011 16:08
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1313 bytes
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. -- Neil Cerutti
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Path: mbox-mo1.pugleaf.net!g2news2.google.com!news4.google.com!fu-berlin.de!uni-berlin.de!individual.net!not-for-mail From: Neil Cerutti <ne...@norwich.edu> Newsgroups: alt.games.warcraft Subject: Re: In which I learn about Opportunity Costs.... Date: 15 Mar 2011 16:08:39 GMT Organization: Norwich University Lines: 16 Message-ID: <8u9h87FmffU1@mid.individual.net> References: <7dc64633-6d07-4555-bbd4-1bcf23d50527@q40g2000prh.googlegroups.com> Mime-Version: 1.0 X-Trace: individual.net 8MEp2btF9QgHbqnkFAGlaQ1fV670RpfcsF8+7RUQAfbqLosGUU Cancel-Lock: sha1:WIhKdF4ury0HOrWiaNgv7Amni68= User-Agent: slrn/0.9.9p1/mm/ao (Win32) Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: 7bit