TechTalk
Well-known member
You’ve missed the point. The uninformed widow thinks $200 is the market value, not a “very low price” she is willing to take because she is in a rush and doesn’t care.
Which uninformed widow "thinks $200 is the market value"? Your question was:
and I described an "uninformed widow" that neither knows nor cares about the "market value" as a seller because to her, it has no appreciable value even though it does to someone else. To her it's just something in the way of plans which are important to her and she wants it gone to make room for something which does hold value in her eyes. I gave you a glaring example of one person's junk being another's treasure. She may consider nearly any price — including a very low price far from "market value" — to be "fair" if it allows her to proceed with her plans.Would you consider the case of the uninformed widow selling at a tiny fraction of the market value to reflect a “fair” price?
You’ve missed the point. You see, the "market value" is not necessarily the same as the value to individuals who possess their own motives for buying and selling — and those different "values" can all be seen as "fair" to different parties with individual needs and desires.
Fairness [is] an objective concept, is it not?
The concept depends on who's defining "fair" and "objective", does it not? If those were universally perceived and defined in the same way, there would be far fewer disagreements, lawsuits, and wars.
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