The Economic Rules That Govern My Life

I have two basic economic principles that pretty much guide most of my life:

1)  Cost-Benefit Analysis

When evaluating tasks at hand and options available to me, e.g. invites to social events, I always break down just how much energy and effort each will take and how much of a potential reward will come of it.  Also, how much of a potential penalty will arise should I decide to not do as asked.  This was pretty much THE golden rule for me when it came to school assignments.  I never chased a 4.0 because I knew that I had no intentions of going to grad school, especially not right after college.  But this applies to other things.  How close am I to the birthday celebrant?  How big of an event is this?  Who will I have to deal with at proposed event and how much can I stand them?  Does the good outweigh the bad?  And by how much?  I stay home a lot, so you can see that the margin of difference is most likely a significant one. 

An extension of this, so to speak, is Risk versus Reward.  It's most likely the same thing, but the way it's phrased gives a different feel to it. 

2)  Diminishing Marginal Utility

We cannot hang out all time time, every day, doing the same shit.  Please do not do the same shit for your birthday year after year after year.  That joke is not funny anymore.  No, you are NOT Rick James.

Scarcity increases demand.  Live it.