(July 6, 2015 at 11:19 pm)Jenny A Wrote: It doesn't work that way. It asks you two questions about what you think your money's worth that ought to have the same answer regardless of what your time's worth. Otherwise you are valuing your time irrationally. The right answer is that they should match.Unfortunately when I hit the second question I saw through the test so I was really just testing my short term memory.
Not necessarily. The circumstances are different in a way that *could* lead someone to value an hour of time differently. In the first question, you were to imagine you were in a distant city, traveling for some reason, presumably for vacation or perhaps even business. The second carried no such implication.
I can conclude that in the first scenario, I'm going to value that hour higher - vacation hours are in shorter supply, and therefore more highly valued than non-vacation hours. If instead, I'm on business, of course I'm going to take the faster mode of travel and expense it to my employer so in effect it costs me nothing (and the price I might be willing to pay is going to depend on how generous my employer is with my travel budget).
So if you're willing to over-think the question a bit, you could rationally come up with two different answers.
