this post was submitted on 14 Dec 2023
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forecasting
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Forecasting is the process of making predictions based on past and present data. Any decision we make is based on a prediction what will happen. Here we study and discuss how to do that well.
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This doesn't make sense for anybody with high fixed costs like rent
I’m not sure how your comment makes sense. Renters must make their rent payment regardless of where they are. Do you mean the long travel time reduces their income? I could see that being a deterrent for a segment of people traveling round-trip who can afford to travel can’t afford to be away from work for long. That has nothing to do with rent but rather a problem of low fixed income. People in that boat would need fast travel assuming they can afford the ticket. When hibernation travel is common the fast travel methods will become more of a luxury and will be priced as such.
Since travel time counts towards time not at home - yes - that means you're wasting rent as well as time off. Half a months worth, for the proposed 1 week per direction being shipped over the Atlantic. Thanks like half of the whole vacation in most cases
That segment of people will have to decide whether to cut their trip short or to save more to support the trip. The budget option will be the hibernation travel. In a natural market the hibernation travel will have to undercut airfare. I couldn’t predict whether the spread would be more than ~40 hrs×min.wage. OTOH, it may not simply be a natural market at that point since govs will likely start artificially penalizing high-emissions travel. An optimist would predict that people will be working less and get paid more by then. IMO the working less part of that is likely. I think the Henry Ford 40 hr work week will be abandoned in the developed world in the next couple decades.