No question that there’s a trade value you’d accept.
But as the old joke goes, once we start solving for that value, we’ve established what you are, and now we’re talking price. What we’re trying to protect is sometimes the pressure to accept bad deals, but it’s also that putting those deals on the table at all is inherently devaluing and destructive, and also that others doing such deals carries a negative externality for you by doing the same. If you think that effect isn’t real (or isn’t substantial) I’d be curious to hear more about why.
I think the epistemological mistake is taking the framework too seriously on the wrong meta-level. Which can be quite bad!
No question that there’s a trade value you’d accept.
But as the old joke goes, once we start solving for that value, we’ve established what you are, and now we’re talking price. What we’re trying to protect is sometimes the pressure to accept bad deals, but it’s also that putting those deals on the table at all is inherently devaluing and destructive, and also that others doing such deals carries a negative externality for you by doing the same. If you think that effect isn’t real (or isn’t substantial) I’d be curious to hear more about why.
I think the epistemological mistake is taking the framework too seriously on the wrong meta-level. Which can be quite bad!