You might find this interesting:
http://money.cnn.com/2004/07/08/commentary/everyday/sahadi/
I completely agree with Hamermesh rather than the complex equation proposed by Walker when determining the value of my time. Doing something I dislike very much makes me more miserable than suffering (or the thought of) over the money I lose for paying a replacement. One of two conclusions can be drawn about my value of time. Either money CAN buy me happiness. Or money may not buy me happiness, but at least it can make me miserable in comfort.
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