If the increase in value of the sellers' land is wholly due to Disney's development of its land nearby, the sellers would simply be benefiting from a positive externality created by Disney. Thus it would be Disney being shortchanged if it was unable to capture the value of that externality.
From an efficiency standpoint it is also preferable for the developer to capture the value, as naturally that increases incentives for development.
Is it okay for the buyer to lie, but not okay for the seller to ask for the truth and adjust their price accordingly? This 'anything goes' market ideology is the same framework that leads us to deceptive subscription systems, anti patterns etc. Deceiving people to make a buck is shitty behavior.
I’m pretty shocked by the whole “profiting from a deceptive transaction is ok if the counterparty believes you” attitude here. I guess I expected more out of HN. I feel like I’d have to keep my hand on my wallet and my eyes over my shoulder if I ever visited any of these guys’ businesses.
HN has for a long time (longer than I've been here) had a strong libertarian streak, and like all libertarians they always seem to believe they're the ones who would come out on top in anarchy despite all historical evidence to the contrary.
> If the increase in value of the sellers' land is wholly due to Disney's development of its land nearby, the sellers would simply be benefiting from a positive externality created by Disney
Isn't that true of any price increase due to increased demand? It seems like you're saying a seller shouldn't be allowed to raise their prices as demand increases, because they'd simply be benefiting from a positive externality created by the buyer.
A: XYZ Shell Corp (no connection to who is actually effectively buying and coming into control of this land)?
Obviously your argument will be "it's not false that XYZ Shell Corp is buying it," and sure, but it's obviously misleading in a way that affects the transaction, as it is specifically designed to do.
I'd say the primary concern is not with the purchasing party exercising their right not to disclose their intent post-sale. It's that they're intentionally masking their identity to prevent unwelcome influence on the transaction (i.e. If you know I'm rich, you're going to jack up the price.)
I think the argument is really over whether parties on either side are entitled to privacy/anonymity. The answer seems to be 'yes' in the form of typically legal shell corps, anonymous LLCs, and the like.
Fair prices when a buyer and seller agreed to as long as no one's lying. The fair price has nothing to do with how much money the buyer or seller make more lose.
From an efficiency standpoint it is also preferable for the developer to capture the value, as naturally that increases incentives for development.