On an intuitive level, how much should comparative advantage be taken into account when deciding on a life path?
It seems unrealistic to analyze every factor involved to maximize utility, but without doing that, there is a wide range of extents to which comparative advantage can be favored or disfavored compared to focusing on more important issues.
There are, I’m sure, other factors that don’t instantly spring to mind that affect this significantly, like how easily a given person develops new skills. I am also asking because I don’t know what all of those factors are.
[Question] Comparative Advantage Intuition
On an intuitive level, how much should comparative advantage be taken into account when deciding on a life path?
It seems unrealistic to analyze every factor involved to maximize utility, but without doing that, there is a wide range of extents to which comparative advantage can be favored or disfavored compared to focusing on more important issues.
There are, I’m sure, other factors that don’t instantly spring to mind that affect this significantly, like how easily a given person develops new skills. I am also asking because I don’t know what all of those factors are.