{"id":109,"date":"2018-11-14T18:04:30","date_gmt":"2018-11-14T18:04:30","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/?post_type=part&p=109"},"modified":"2018-11-14T18:06:38","modified_gmt":"2018-11-14T18:06:38","slug":"chapter-4-evaluating-choices-time-risk-and-value","status":"web-only","type":"part","link":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/part\/chapter-4-evaluating-choices-time-risk-and-value\/","title":{"raw":"Chapter 4: Evaluating Choices: Time, Risk, and Value","rendered":"Chapter 4: Evaluating Choices: Time, Risk, and Value"},"content":{"raw":"
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Introduction<\/h2>\r\n
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The land may vary more;<\/p>\r\n

But wherever the truth may be\u2014<\/p>\r\n

The water comes ashore,<\/p>\r\n

And the people look at the sea.<\/p>\r\n

Robert Frost, \u201cNeither Out Far Nor In Deep\u201dRobert Frost, \u201cNeither Out Far Nor In Deep,\u201d Selected Poems of Robert Frost<\/em> (New York: Holt, Rinehart and Winston, Inc., 1963).<\/span><\/p>\r\n\r\n<\/div>\r\n

Financial decisions can only be made about the future. As much as analysis may tell us about the outcomes of past decisions, the past is \u201csunk\u201d: it can be known but not decided upon. Decisions are made about the future, which cannot be known with certainty, so evaluating alternatives for financial decisions always involves speculation on both the kind of result and the value of the result that will occur. It also involves understanding and measuring the risks or uncertainties that time presents and the opportunities\u2014and opportunity costs\u2014that time creates.<\/p>\r\n\r\n<\/div>\r\n<\/div>\r\n<\/div>","rendered":"

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\n
\n

Introduction<\/h2>\n
\n

The land may vary more;<\/p>\n

But wherever the truth may be\u2014<\/p>\n

The water comes ashore,<\/p>\n

And the people look at the sea.<\/p>\n

Robert Frost, \u201cNeither Out Far Nor In Deep\u201dRobert Frost, \u201cNeither Out Far Nor In Deep,\u201d Selected Poems of Robert Frost<\/em> (New York: Holt, Rinehart and Winston, Inc., 1963).<\/span><\/p>\n<\/div>\n

Financial decisions can only be made about the future. As much as analysis may tell us about the outcomes of past decisions, the past is \u201csunk\u201d: it can be known but not decided upon. Decisions are made about the future, which cannot be known with certainty, so evaluating alternatives for financial decisions always involves speculation on both the kind of result and the value of the result that will occur. It also involves understanding and measuring the risks or uncertainties that time presents and the opportunities\u2014and opportunity costs\u2014that time creates.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"parent":0,"menu_order":4,"template":"","meta":{"pb_part_invisible":false,"pb_part_invisible_string":""},"contributor":[],"license":[],"class_list":["post-109","part","type-part","status-web-only","hentry"],"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/pressbooks\/v2\/parts\/109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/pressbooks\/v2\/parts"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/wp\/v2\/types\/part"}],"version-history":[{"count":0,"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/pressbooks\/v2\/parts\/109\/revisions"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/wp\/v2\/media?parent=109"}],"wp:term":[{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/wp\/v2\/contributor?post=109"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-personalfinance\/wp-json\/wp\/v2\/license?post=109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}