I am planning on creating decision markets for decisions in my life. For that I want to create a Personal welfare function that then different markets try to estimate conditional on which decision I make. For this to work I need a function that accurately reflects what I value, I am open to suggestions for my function.
So far I would input Income, Happiness (Each week I would estimate my happiness for that week), Career capital, Books (or Book equivalents) read...
I will give bounties for inputs I use in my function.
Any other suggestions for the function are also welcome. Should I just add the different inputs, shoud I use a Cobb Douglas function etc.
Related questions
1. Physical Health Metrics:
- BMI (Body Mass Index): A simple index of weight-for-height.
- Exercise Frequency: Number of exercise sessions per week.
- Chronic Disease Indicators: Presence or absence of chronic diseases.
- Sleep Quality: Measured through sleep tracking devices or apps.
2. Mental Health Metrics:
- Stress Levels: Could be self-rated on a scale.
- Anxiety and Depression Indices: Utilizing standardized scales like the GAD-7 or PHQ-9.
- Therapy Sessions: Frequency of therapy sessions.
3. Social Metrics:
- Social Interaction Frequency: Number of social interactions per week.
- Relationship Quality: Satisfaction levels with personal relationships, could be self-rated.
4. Personal Development:
- Skill Development Hours: Hours spent on developing new skills.
- Educational Attainment: Highest level of education achieved or credentials earned.
5. Financial Metrics:
- Savings Rate: Percentage of income saved.
- Investment Returns: Annual returns on personal investments.
- Debt Levels: Total outstanding debt.
6. Career Metrics:
- Job Satisfaction: Could be self-rated on a scale.
- Professional Development Hours: Hours spent on professional development.
- Job Performance Evaluations: Scores or feedback from job performance evaluations.
7. Leisure and Recreation:
- Leisure Hours: Hours spent on leisure activities per week.
- Vacation Days: Number of vacation days taken.
8. Environmental Metrics:
- Living Conditions: Satisfaction with living conditions, could be self-rated.
- Commute Time: Daily or weekly commute time.
9. Community and Civic Engagement:
- Volunteer Hours: Hours spent on volunteer work.
- Community Involvement: Level of involvement in local or online communities.
10. Cultural Engagement:
- Cultural Events Attended: Number of cultural events attended, like concerts or museum visits.
- Creative Output: Hours spent on creative projects or number of creative works produced.
11. Technology and Digital Engagement:
- Screen Time: Daily screen time.
- Digital Literacy: Proficiency in using digital tools and platforms.
12. Sustainability Practices:
- Carbon Footprint: Estimated personal carbon footprint.
- Sustainable Behavior Index: Self-created index based on sustainable practices like recycling, using public transport, etc.
Sleep should be an input! In my experience lack of sleep is a very strong indicator of having a bad time for the next few days thereafter.
The people you’ve talked to today (in-person) should also be an input, because generally talking to more people in person makes my life feel better, although the correlation is not as strong. I could imagine you upweighting your closest friends/acquaintances as opposed to complete strangers though.
An input can be around Mindfullness/Peace/Contentment/Margin
Basically do you have rhythms and time allocated to pause and reflect. (I imagine if you are utilizing these markets you will need that).
And when you do pause, are your thoughts hectic, anxious, chaotic or peaceful and content.
Maybe this is simply an measure of mental health.