Hi everyone
Since I'm only just starting my second semester in Biomedicine and therefore no math expert, I thought it would be great if any of you math enthusiasts/experts could check the equation I came up with regarding the value of leisure activities is correct?
I wrote sort of a "paper" which explains my thought process and here is the Excel File with which one can calculate the different activities.
Here is a brief summary:
Let's call the activity into which hour spent time goes medium M. M can be described through 3 variables: regret r, skill s and fun f.
We can determine those variables by asking 3 questions:
If you find yourself at the end of your life and were able to see all your activities projected onto a wall, how much would you wish you would have done something different instead of doing this activity, 1 being “very much” and 5 “not at all”? Coming back to the pleasant present, how much do you think will this activity improve any skill in your life, 1 being “not at all” and 5 “very much”? And the probably easiest question, how much fun do you think you will have doing this activity, 1 being “not at all” and 5 “very much”?
Since r, s and f are not equally valuable, so the parameters a, b and c are needed. These parameters can be determined by asking:
a: How much is an activity you would for sure know you wouldn't regret at all (like visiting the place you most want to) worth to you? (Scale of 1 to 10; 1 "nothing", 10 "everything")
b: How much is participating in an activity that would only improve one specific skill in your life worth to you?
c: How much is an activity which only entertains you highly worth to you?
And M(r,s,f) can be described as:
M(r,s,f)=[1-(r+s+f)-1]*log(ra*sb*fc)
Because each person's situation is different, another term is needed. I call it the quality Q of spare time or leisure l. Each person has certain responsibilities ρ [1,10], age α [in years] (needed, because our time on earth is limited and therefore more valuable, the older we get) and free time l [h/week].
Q(l) can be described as:
Q(l)=0.1*log(0.001*ρ*α/l)
To differentiate a good activity from a bad one, I set the reference point at M(3,3,3).
M(3,3,3)=M0=(8/9)*(a+b+c)*log(3)
To calculate the target value, this Term can be used:
V(t)=M*(M/M0)Q(l)*Δt
To have the reference point at 50, I multiply it with (50/M0). And so I get finally:
V(t)=50*(M/M0)Q(l)+1*Δt
(V(t): [vh], "Valenzstunde" or valence hour; Δt: [h], time spent)
Example:
Person X, or me, if you want: With responsibility=3.5; age=20; l=23; a=9.9; b=6.4; c=4.8
Watching television=(1,1,5)=10.8 vh per hour
Gaming=(1,2,5)=20.5 vh per hour
Reading Harry Potter =(4,2,5)=59.8
Going for a run=(5,5,2)=72.3 vh per hour
Travelling=(5,5,5)=89.4 vh per hour
Person Y: responsibility=8.5; age=40; l=10
Watching television=(1,1,5)=9.6 vh per hour
Travelling=(5,5,5)=93.5 vh per hour
I'd appreciate any kind of feedback.
Kaminaji