Predictably Irrational - Chapter 1: Everything is Relative

i'm sorry ! this one does not work for me.. i am the highest paid employee in the company but it's not enough salary for me (i'm a foreigner in vietnam)

Are there exceptions? Absolutely. There are always statistical outliers - if you gave me superbowl tickets I would consider it negative value - I don't like football and getting rid takes effort/value on my part. That's not the point. Most people see such having value.

The NPV (@any realistic interest rate) for the declining cash flow is *always* larger than the increasing cash flow. So as long as money is the measure, this reality defies the basic assumption of economics.

That reminds me of the PARADOX OF CHOICE by bary schwarz, a must read!

I understand this theory but, what would your opinion be of a person who lives well below his/her means without concern for one's perceived status or what others might think? Many DO defy these comparisons you describe.