storing tractor for years

[MossRoad]

:shhh:

 

[MossRoad]

:applause:

 

[Geotech]

Oh, it's not my expert opinion....

What's Wrong With The Endowment Effect - Business Insider

From the article:
" the Endowment Effect may really be a response to the counterparty risk faced by early humans. The Behavioral Economists have focused on the wrong thing: the value of possessing an item, rather than the real issue, the cost of trading with other independent agents."

and

"The Endowment Effect Experiments Were Misleading
You can see how the Behavioral Economists were misled by their own experiments to read evolutionary counter-party risk discounting as an Endowment Effect. In their experiments, no counter-party risk existed. But they were testing subjects who had deeply ingrained, hard-wired counter-party risk discounting built into their behavior. The conditions of the experiment left out the actual conditions of the real world that condition human behavior. And it turns out that humans in Behavioral Psychologist labs act a lot like humans outside the labs. So the Behavioralists missed the fact that it wasn't Endowment that was creating value - it was that trading was understood to be risking value."

Everyone has opinions...not everyone wins Nobel prizes for their opinions, though....

 

[Geotech]

I refute your Nobel prize winning research with an article from Business Insider!

As long as it supports my own opinion - it must be right!:laughing:

Must have hit a nerve with you, Moss, because now you are trolling me. I guess you aren't as smart or mature as I had thought you were.

 

[quicksandfarmer]

Quicksandfarmer,

Some people are tone def - I wouldn't try explaining the difference to Moss any further. Never mind the Nobel prize winning work that has uncovered the endowment effect. From just one Wiki article, Moss has already distilled it down to its essential essence in his own expert opinion. The rest is just a bunch of academics who don't know nuthin bout no real life. This is a tractor forum after all...

I do compliment you on your explanation and also the inclusion of confounding factors. Always nice to come across people with shared interests in unlikely places.

Thanks, we all come here to learn. I personally feel a basic understanding of economics and statistics should be a part of every education.

 

[MossRoad]

Ah... resorting to the old ad hominem.

 

[Jstpssng]

I think that the last two pages are completely off the mark. Have any of you been tractor shopping lately? Finding a clean used unit of that size up here at least is tough. When you do they want almost the price of a new one. A year ago if he had said he was selling I would have been on the road that night. He doesn't know what the near future holds, so made a very wise decision and is keeping the tractor.
Personally I think that you guys owe him some money for prompting the philosophical discussion.

 

[paulfun9]

Run tractor, make sure it gets a good solid work out.
Lube everything
Add a quality fuel additive
Top off tank
Jack tractor up and place on jack stands with tires just off the ground
Apply thin coating of grease to any exposed moving hyd parts
Disconnect and remove the battery
Cover it with something that won’t hold moisture
Spread some moth balls around in areas that are prone to harboring rodents

When the time comes to retrieve it it will be an easy retrieval just needing a freshly charged battery.

 

[ugabulldog]

I think that the last two pages are completely off the mark. Have any of you been tractor shopping lately? Finding a clean used unit of that size up here at least is tough. When you do they want almost the price of a new one. A year ago if he had said he was selling I would have been on the road that night. He doesn't know what the near future holds, so made a very wise decision and is keeping the tractor.
Personally I think that you guys owe him some money for prompting the philosophical discussion.

Interesting story...The guy I bought from on craigslist had just bought it 2 months before from original owner who passed away.....he had been watching CL for goods deals and jumped on it being an 04' w/ 225 hrs.....his gf decided against living/building in the country so he was selling property and tractor as he no longer needed, I contacted him hours after he posted on cl, said he had someone coming tomorrow to look at, but not sure what time, I asked him to hold it until first thing tom. morning and give me first shot at it which he agreed, I met him next morning with money in hand. He said that he had been contacted from guys that saw it first time around on cl I(which he had beat to buy it) and they definitely wanted it if I didn't... Basically, yes the goods ones are hard to find and do go FAST... I thought this was a great deal, I paid $14,5K 3 yrs ago, had rop canopy, wheel weights, and grill guard also, Tractor had always been stored indoors and looks like new.

I ordered some opti-lube xpd to add to fuel, (which I can use now and for storing) and plan on using till I move, and keeping until I am sure I won't need in future, BUT I think I can always use it because my plans are to build house on a few acres in the woods, figure I could always use for grading gravel drive, spraying weeds, seeding, moving trees limbs (I added front hyd. and grapple thanks to this forum), dirt etc, I plan on having a 1/4 acre pond dug (probably would make sense to hire this out vs me trying to do w/ tractor? Maybe a question for another time after I have researched more) I know I could use phd and fel to install temp power pole in ground for building house.

 

[MossRoad]

:thumbsup: