Choosing From Among Your Opportunities

Visiting the health store in you local mall, circa 2040 :

Item #1

"The Fountain of Youth", a widget, color-coded red, plugs into the access port on your pacemaker, makes you feel like 25 again, price = $40,000

Item #2

"The Fountain of Middle Age", a widget, color-coded green, plugs into the access port on your pacemaker, makes you look like 45 again, price = $15,000

Item #3

"The Fountain of Retirement Age", a widget, color-coded blue, plugs into the access port on your pacemaker, makes you think you are 65 again, price = $5,000

If you are 75, how would you rank the perceived (expected) aggregate benefits (to you) of these three products, one through three? (Aggregate benefit means the positive benefit balanced against the negative benefit (disadvantage), the price in this case. If the positive benefits and the negative bnefits could be expressed in a common unit, we would subtract one from the other and call it a net benefit, but they can't, and we won't)

Assume that you have ranked the items in the same order as presented, red/green/blue. What does this mean?

It means the you prefer the expected benefit to you of feeling 25 again and spending $40,000 for the privilege to the expected benefit to you of looking 45 again and spending $15,000 for that privilege.

It also means that you prefer the expected benefit to you of looking 45 again and spending $15,000 for the privilege to the expected benefit to you of thinking that you are 65 again and spending $5,000 for that privilege.

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