- All mind valuation models and methods have limitations (e.g., they are made from the vantage point of a mind with varying degrees of complexity, relevance to what it observes, critical thinking abilities, minimal mental impairments, etc.)
- Model inputs can vary significantly because of judgment and differing assumptions (e.g., gender, culture, demographics, social status, experience, etc.)
Tuesday, September 10, 2013
How Much Is Your Brain Worth, Part 2
Continued from How Much Is Your Brain Worth, Part I
Guideline Mentance Method
This method determines the value of a mind by observing the output of similar minds (called "guideline minds") that produce in a given space. Those productions could be giant tennis balls or the introduction of entirely different concepts. The outputs serve as valuation benchmarks. From the outputs, one calculates output multiples such as the output-to-satisfaction or output-to-appreciation ratios - one or more of which is used to value the mind. For example, the average output-to-satisfaction of the guideline mind is applied to the mind reporting satisfaction to estimate its value.
Many output multiples can be calculated. Most are based on a holistic experience such as an individual's overall level of happiness (output-to-satisfaction) or perceived value (output-to-appreciated value) but multiples can be based on other factors such as output-per-mind.
Net Mind Value Method
The next-most common method of estimating the value of a mind looks to the productions and limitations of the mind. At a minimum, a coherent mind could cease producing, take off to a deserted island, and paint pictures. Any objects that would remain establishes a base value for the mind. This method is known as the net mind value. In general the outputs of a well-performing mind exceed this base value.
In mentance, valuation analysis is required for many reasons including personal enjoyment, to satisfy curiosity, to mess with someone else's mind, and basic self-assessment and evaluation. Since the value of someone's mind fluctuates over time, valuations are as of a specific date like the end of a school year or major course of study, after a work promotion, or after an epiphany. Valuations may alternatively be mind-to-mind estimates of the current value of outputs a mind has produced, i.e., tangible artifacts, as of this minute or day for the purposes of accurately assessing potential outputs going forward as well as the risks involved in presuming a mind will produce again or at all just because one wishes it so.
Some minds are much easier to value than others. Publicly active minds have values that are quoted frequently and readily available to participate in endeavors that produce tangible outputs. Other minds are harder to value.
For instance, minds that separate themselves from the general populace that have fewer quoted outputs. Additionally, minds that have "potential" are generally valued using a model that gives a theoretical estimate of the value of the mind's style. Utilizing empirical tests could result in a "fairly close" valuation of the observed outputs, although there would be discrepancies resulting in a skewed smile instead of the expected flat surface.
This skewed smile arises out of an intrinsic volatility of the underlying mind. This type of mind is often associated with the mind of a Maverick. When this type of mind is plotted against a mind's strike price, i.e., the option the mind has to produce or not, irrespective of an existing agreement to do so, the resulting graph is typically downward slopping for minds that do not share what they produce with others, or valley-shaped for minds that interact well with minds of equal or higher calibre.
Intangible artifacts of the mind like goodwill, artistic creations, or intellectualized property, are open to a wide range of value interpretations.
It is possible for individuals to make their own estimates of the valuation of the assets or liabilities that their minds produce. Self-calculations are of various kinds including opinions of one's mind's present condition that focus on desired outputs, a philosophical exploration of which values are good or ideal and a present value calculation of their outputs to date, and analyses of outputs that focus on the opinions of others, things other people do not know, challenges, and levels of interest in creating in the first place.
All of these approaches may be thought of a creating estimates of mental value from the inside out. This method competes for credibility with objectively valued minds, but what do other people know of our minds, anyhow? Only what we choose to share.
It is important to note that mental valuation requires judgment and assumptions:There are different circumstances and purposes to value a mind (e.g., distressed mind, enjoyment purposes, in evaluating a potential personal or professional merger or meeting of the minds in a contained personal, professional or social environment, memoirs). Such differences can lead to different valuation methods or different interpretations of the method results.
Coming up next:
Valuation of knowledge gained from exploration