Showing posts with label cost benefit analysis. Show all posts
Showing posts with label cost benefit analysis. Show all posts

Wednesday, December 30, 2009

Planning for the Future

Since the age of sixteen I have had a specific phrase that I could include in any communication from myself in the future in order for it to be certifiably authentic. While I don't expect a time traveling communication technology to be ever be invented (let alone within my lifetime), it seemed an easy enough preparation to make. Obviously I can't share the phrase with you or it would compromise its utility. I encourage everyone to spend a couple minutes coming up with a similar code phrase (or just a PIN number). It can't hurt, unless you're careless enough to tell a friend what it is; then the hoaxing possibilities are limitless.

I figure the cost benefit analysis breaks down like this:

Chance of it occurring = almost zero.
Importance if it did occur = very high.
Cost to prepare = almost zero.

Since the expected benefit, (almost zero)*(very high), is greater than the cost, almost zero, it's worth creating the password.