How good are you at measuring value?

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Solute
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Joined: Sun Sep 08, 2019 10:52 am

How good are you at measuring value?

Post by Solute » Sun Sep 08, 2019 11:51 am

Perhaps some of you have heard about the Keynesian beauty contest used to describe price fluctuations in equity markets. Recently, I was listing to this: https://www.hoover.org/research/area-45 ... ty-contest podcast, and the question of how to evaluate goods and services that do not appear in GDP. For example, how much do you value access to central heating and cooling that might not be easily available in places like the Congo. Also, things that have unique value such as photos of loved ones, wedding bands, and diplomas.

Tim Kane has a quiz, https://www.hoover.org/economic-beauty-contest, that attempts to find out how people evaluate these kinds of material goods. Quiz ends Monday at midnight. I think that ERE people might be better than the average person at determining these values.

In addition, what are some evaluations that you think are missed from common analytics?

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unemployable
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Location: Homeless

Re: How good are you at measuring value?

Post by unemployable » Sun Sep 08, 2019 11:57 am

Solute wrote:
Sun Sep 08, 2019 11:51 am
Also, things that have unique value such as photos of loved ones
$0, just stuff. I decluttered some 7,000 old photos a couple weeks ago.
wedding bands
$0, not applicable
and diplomas.
$0, from what the job market has told me, although that's also what I and my parents paid for it.

I do value anonymity though, which I why I didn't take that quiz.

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Bankai
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Re: How good are you at measuring value?

Post by Bankai » Sun Sep 08, 2019 12:08 pm

Same as unemployable, I almost never rewatch old stuff, be it photos or videos. Lately, I've been wondering what's the point of even taking pictures in the first place if I never have another look at them again. Past is to me to learn lessons from and move on, not to ponder how great life used to be. Maybe I'll get more sentimental as I get old, who knows, maybe it's a good enough reason to keep this stuff around. Especially since it's all digitalised so doesn't take any space other than mental. Not too worried about the wedding ring either, not sure why we got those in the first place.

Solute
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Re: How good are you at measuring value?

Post by Solute » Sun Sep 08, 2019 12:15 pm

The things that I suggested weren't actually on the quiz. It is filled with more like new items such as washing machines etc. and also things like the second amendment. So how much would you @unemployable and @Bankai pay for a new washing machine if you actually needed one? How much would someone have to pay you to give up the 4th amendment for a year? The 4th amendment prevents unreasonable searches and seizures and sets out requirements for search warrants based on probable cause.

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unemployable
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Location: Homeless

Re: How good are you at measuring value?

Post by unemployable » Sun Sep 08, 2019 12:22 pm

Solute wrote:
Sun Sep 08, 2019 12:15 pm
So how much do you @unemployable and @Bankai pay for a new washing machine if you actually needed one?
I hand-wash my clothes and other small items and find this gets them cleaner than a washing machine does. For the occasional larger thing I'm fine using the laundromat. So a washing machine is more a "nice to have" than a "need".

How much would someone have to pay you to give up the 4th amendment for a year? The 4th amendment prevents unreasonable searches and seizures and sets out requirements for search warrants based on probable cause.
Trick question. Whatever I was given could be seized right back.

The third amendment, though? I'd charge triple market rent for a 1br here to quarter a soldier for a year, assuming I could enforce some sort of standard lease agreement regarding damage, noise and the like.

daylen
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Re: How good are you at measuring value?

Post by daylen » Sun Sep 08, 2019 1:30 pm

Ni-Fi is essentially valuation based on universal truth, so INTJ's would tend to have a fine-tuned intuition of what matters to them. Si-Fi is valuation based on particular instances of use. This is the difference between "I like books" and "I like this book, because [anecdote]..".

With Ti in the top of the stack, the problem of valuation can be very challenging. Ti is detached from values by default; the primary purpose of the function is to eliminate the "self" from the equation altogether and evaluate based on objective principles. The pursuit of this ideal clouds the users vision of what is important.

This cloudy vision can be resolved overtime with Si and Ni (knowing functions). As an INTP with Ti-Si, I am slowly starting to see patterns in the clouds of what is important to me based on my own experiences. Also, being on this forum with a bunch of Ni-doms helps me narrow my focus. Convergent Ni truths are useful even without access to the data they were drawn from, because I can just validate them using my own experiential data-set.

I think this is even more of a problem for ExTP's with Fi in the 7th slot. Fi in the 8th slot is not as bad because Ti and Fi are both deliberation functions. The major difference is that Fi includes the self as part of the equation, so a Ti-dom can more easily pick up the skill just by considering the ego. ExTP's with either Se or Ne default to taking action (physical or meta-physical) as opposed to deliberating, therefore the use of Fi in these types requires a significant amount of energy.

In summary: best[ Ni-Fi > Si-Fi > Ni-Ti > Si-Ti ]worst

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fiby41
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Re: How good are you at measuring value?

Post by fiby41 » Mon Sep 09, 2019 12:33 am

Go directly to the survey if you don't want to share your details
https://www.surveymonkey.com/r/KaneStudy
Solute wrote:
Sun Sep 08, 2019 11:51 am
so, things that have unique value such as photos of loved ones,
There is a part of the brain that is dedicated only to facial recognition and hits the reward centers when you see familiar faces.
Beauty contest
This is also called as pre-selection. It is easier to gauge a person's attractiveness if other people are already interested in him. It acts as social proof.

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