There is no fundamental reason for Cheerful Price to be higher than what you are normally paid. For example, if you’d love to do a thing even without pay, Cheerful Price would be zero (and if you can’t arbitrage by doing the thing without the transaction going through, the price moves all the way into the negatives). If you are sufficiently unusual in that attitude, the market price is going to be higher than that.
Yes, you are correct that the Cheerful Price could be less than my normal wage. But this is not usually the case for me. People aren’t usually asking my Cheerful Price to eat some ice cream, or something similarly pleasant. And unfortunately we don’t live in a world where my regular wages are above my Cheerful Price.
There is no fundamental reason for Cheerful Price to be higher than what you are normally paid. For example, if you’d love to do a thing even without pay, Cheerful Price would be zero (and if you can’t arbitrage by doing the thing without the transaction going through, the price moves all the way into the negatives). If you are sufficiently unusual in that attitude, the market price is going to be higher than that.
Yes, you are correct that the Cheerful Price could be less than my normal wage. But this is not usually the case for me. People aren’t usually asking my Cheerful Price to eat some ice cream, or something similarly pleasant. And unfortunately we don’t live in a world where my regular wages are above my Cheerful Price.