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no, how is that relevant? someone has something to sell for $1 that you value more than the $1 in your pocket so you buy it; doesn't matter if someone a block a
by jsbg 1y ago
no, how is that relevant? someone has something to sell for $1 that you value more than the $1 in your pocket so you buy it; doesn't matter if someone a block away is selling it for $0.50
- kwk1 1y agoA perception of value depends on an assessment, which requires information. Suppose the thing you thought would provide $1 of value doesn't actually. Edit: concrete example. https://en.wikipedia.org/wiki/Lemon_(automobile) https://en.wikipedia.org/wiki/Lemon_(automobile) Edit2: metaphorical example. I have a very valuable bridge to sell you. Just hope the value you receive isn't different than the value you perceive at transaction time. https://en.wiktionary.org/wiki/I_have_a_bridge_to_sell_you https://en.wiktionary.org/wiki/I_have_a_bridge_to_sell_you