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Unformatted text preview: was so unpleasant that you would be unwilling to do it for less than $30/day. Should you go cycling? There are two equivalent approaches to look at this decision . 3 Comparing the two approaches Approach I Approach II B(X)= 120 30 + B(X)= 120 C(X)= 40 + 60 C(X)= 40 (60 30) + B(X) - C(X) = 50 It makes no difference which of these two ways we handle the valuation of the unpleasantness of sweeping the streets. 1. Viewing the unpleasantness as the benefits we can get from going cycling because we can escape from sweeping on the streets. 2. Viewing the unpleasantness of the sweeping job as an offset against its salary....
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- Fall '08