[grimtrigger]

By that logic, this is a very expensive book. If it takes 6 hours to read fully it costs $600 + sticker price!

Just because you get paid $100/hr doesnt mean you value your time at $100/hr. In fact in means that you value your time LESS than $100/hr (though not by how much).

[slavik81]

Not every unit of a resource has the same value. Marginal utility is typically a curve, with the value of each unit of the resource decreasing as you have more of it.

In theory, yes, the time someone spends working is worth less to them than what they are paid. Hence why they spend it working.

But, in theory, they only stop working because the remaining time they have left in the day is at that point worth more to them than their hourly pay.

[pinko]

Speaking personally, the marginal value of my time is quite a bit higher than my normal billable rate, because I'm busy.