Monday, April 20, 2009

Does fun come into consideration when it comes to Economics?

Since we're talking about childhood games like Neopets, I began to wonder. Is fun a factor when it comes to economics? Or does it come under benefits of the activity? As part of an opportunity cost? Or is it an external factor? Positive externality? Would someone care to discuss?
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2 comments:

  1. ナナシApril 21, 2009 at 1:04 AM

    I'd put fun in doing an activity part of the private marginal benefit. People spend their time and/or money to be entertained.

    Remember, externality is imposed on the rest of the society and not borne by the person. Let's say you're watching a movie. You're the person being entertained in the end, not the rest of society, right?

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  2. BettyApril 21, 2009 at 2:44 AM

    Aha. But what if your were doing something fun for yourself, as well as others? Then It would come under Social Marginal Benefit no? As it would involve BOTH Private Marginal Benefit and External Marginal Benefit! :)

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