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Why should I believe in markets when transactions can just be reversed like this?
by stainforth 5y ago
Why should I believe in markets when transactions can just be reversed like this?
- cj 5y agoIf you walked into a car dealership and saw a price tag of $100 on a car that normally sells for $250,000, would you also lose faith in the dealership when they return your $100 and tell you the car was not meant to be priced at $100? If anything, the example should boost your confidence in the marketplace. Marketplaces exist to provide a fair experience to both the buyer and the seller. Not just the buyer.
- matheusmoreira 5y ago> would you also lose faith in the dealership when they return your $100 and tell you the car was not meant to be priced at $100 Yes.
- cj 5y agoNow imagine it was your own car in the parking lot, and an employee of the dealership accidentally tagged your car for sale as one of theirs, and mistakenly and irreversibly sold it, all while you were test driving a new car :)
- smilekzs 5y ago"you" would then sue for damages?
- 3np 5y agoThen the dealership is on the hook for at the very minimum the actual market value of the car.
- matheusmoreira 5y agoLooks like they owe me a new car.