May 25th, 2009

Economy of decisions?

I'm looking for a model (or even name) that describes the economy of decisions based on the size of the data set.

For example, in an "Economy of Scale" costs are reduced over time, or as a result of more players, or more efficiencies, etc.

But what about one who makes completely different decisions about their money, or use of time, given the time they have?

In this example, I know I'm going to live another 30-40 years, what I use my time for is quite different than what I would do if I had 10 years, or 100 years more. 

Most people have a simple model where there is a simple list, perhaps numbered, and the more time they have, the more things they would do on the list. 

But, this Is not really the way things work.  I might have a list of 20 things I want to do, some in serial, some in a parallel...  If I have 10 years, I will do items A, B, C, and Z.  But if I have 20 years, I'll skip A, and do B, C, Y and Z. 

This is a really interesting area to me in terms of money and time management.