I wonder if you (and maybe Zvi) are confusing “trade” with “market”. I make no claims that any given market is capable of generating a “correct price” for any given individual trade, or even that such a concept is coherent. Instead, each trade is idiosyncratic to the involved parties and their particular valuations of the actions or objects exchanged.
I wonder if you (and maybe Zvi) are confusing “trade” with “market”. I make no claims that any given market is capable of generating a “correct price” for any given individual trade, or even that such a concept is coherent. Instead, each trade is idiosyncratic to the involved parties and their particular valuations of the actions or objects exchanged.