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by darawk
3044 days ago
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Yes, but the discounted present value of that tulip's reproductive capacity into the future is much more justifiable to value so highly. It turned out not to be a good investment, but that doesn't make it irrational. Had a moderately good tulip market persisted, it may have justified paying such a high price for uniquely high quality bulbs, because you could turn them into a productive asset by breeding them. |
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