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by DavidSJ
4819 days ago
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It does not imply anything about reversibility. It applies just as well to a liquid asset like bitcoin or stock as to an illiquid asset such as a house. Two people each have 1 BTC. One paid $5 for it, the other paid $10 for it. Their present situations are identical, therefore the rational behavior is the same for both of them, despite their different purchase prices. |
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