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Agree, but economists do have a solution for this problem. Self-assess the value and pay taxes based on that value. If someone/the government makes an offer tha
by zeulhex 6y ago
Agree, but economists do have a solution for this problem. Self-assess the value and pay taxes based on that value. If someone/the government makes an offer that is some percentage greater than that value, you must sell.
- ZainRiz 6y agoSounds like a solution only an econ could think up of, which doesn't take into consideration other external factors that would apply specifically to the person holding the property, such as: - human psychology (loss aversion, endowment effect, mental anxiety due to risk of being forced to sell your property) - switching costs (monetary, mental, time spent searching for alternatives, costs to moving to something else) - replacement costs (transaction costs, etc)