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She's not "preventing a more efficient allocation of a scarce resource." She's "preventing reallocation of her own resource." Good for her!

Only she knows what's best for her property. There's nothing irrational about doing what you want with what you got. It's the opposite that's irrational.

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>Only she knows what's best for her property. There's nothing irrational about doing what you want with what you got.

Wait, so is it supposed to be the market deciding or this one lady?

There is no difference? The market is the sum of the decisions of individual actors.

Actually... She is being irrational, because her decision is clearly made on emotional grounds.

But it's her right. I hope it bites her, but it's her right to be irrational.

Though that's the story being portrayed (because "fully rational person does fully rational things" doesn't get many clicks/much interest), it's quite possible that the actual strategy is as suggested here: https://news.ycombinator.com/item?id=19119286

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