Of course the world is complex. This stuff makes sense unless it doesn’t. That $10,000 piece of land may require capital budget to utilize that you don’t have, for example.
I ran into the concert example when it was announced a couple of years ago that David Wright would take the field for the N.Y. Mets for the last time. My $12 tickets were suddenly worth $300 or more. Rationally, it would make sense to pocket a few thousand bucks. But the experience had a certain value, and I wouldn’t be able to get my kids and nieces and nephews together, in NY, etc for a year or more. So we had an amazing time and missed an economic coup.
Comments
Of course the world is complex. This stuff makes sense unless it doesn’t. That $10,000 piece of land may require capital budget to utilize that you don’t have, for example.
I ran into the concert example when it was announced a couple of years ago that David Wright would take the field for the N.Y. Mets for the last time. My $12 tickets were suddenly worth $300 or more. Rationally, it would make sense to pocket a few thousand bucks. But the experience had a certain value, and I wouldn’t be able to get my kids and nieces and nephews together, in NY, etc for a year or more. So we had an amazing time and missed an economic coup.
The way I see it, you didn't miss the coup. You got a $300 experience for $12.
I'm monetary terms, you got the exact same outcome as if you'd have sold the tickets.