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10-28-2010 @ 4:57PM
If there is one concept all the wannabe auctioneers throws up here without a clue as to what it is, it's opportunity cost. My thinking does not include eating or sleep because those are necessary activities that do represent the highest/best use of my time. If I sleep 16 hours a day when I need 8, or eat 12 meals a day when I could get by with 3, the excess could be categorized as costing me stuff.When will the people who play this game realize that flipping gems in a virtual world, gives you no credibility when it comes to finance, especially when you're talking to someone with a Finance degree. I got an A in Micro and Macro economics...so apparently my professor managed to plow through his embarrassment/worry and give me the grade someone with a clue deserved.I really wish I could say the same for the others. P.S. there is a longer response to this floating around the comments...I don't feel like reposting it so go find it.
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