It is in this OBJECTIVE variable that you tend to see the largest multiplier effects on PRODUCTIVITY since some goals are, in an expected value sense, at least 100x more valuable than others. Though typically, in those cases of very large amounts of value, the uncertainty in the value is also high (so one goal might be 100x better in expected value but still have a substantial chance of producing no value).
Oddly, some goals we may choose may have negative expected values (even according to our own value systems). Consider, for instance, someone who works for years towards a goal because they think it will make their parents happy (and it makes them miserable to work towards it). But it turns out they are wrong, and their parents are actually indifferent to them achieving the goal! In that case, due to a false belief about the world relating to their parents, the OBJECTIVE factor in the equation ends up being negative, making the whole productivity equation negative (hence the more TIME that is spent, the *less* value is produced, reversing the usual relationship!)
PRODUCTIVITY = TIME x EFFICIENCY x OBJECTIVE
From: The formula for productivity – and what you can do with it