[Crm-sig] ISSUE MonetaryAmount Identity

Simon Spero sesuncedu at gmail.com
Wed Jan 18 18:45:58 EET 2017


It makes a difference *to the model* for the relationship between
Linguistic Objects and Monetary Amounts.  For example, if the researchers
for a particular sale conclude from a newspaper article that the final
auction hammer price was $1M for the painting, is it that the Linguistic
Object refers to the Monetary Amount as the generic face value of any old
million dollars, or is it explicitly the million dollars that was the sale
price?


I find it difficult to interpret the use of the term 'price' as referring
to anything other than a dimensioned value, rather than a specific payment
event involving the transfer of some specific assets.

It's analogous to a report stating that Tom Brady has a 40 yard dash time
of 5.28 seconds, but Ben Roethlisberger has a 40 yard dash time of 4.75
seconds. Although, because these are the results of measurements, we can
infer the existence of two specific intervals of time, and two specific
patches of  ground, this is irrelevant to the report.

Also, suppose that instead of a hammer price of $1M, there had been a
reserve price of $2M, and the highest bid was $1M.
Then consider the counterfactual sentence "Had the reserve price not been
$2M, the hammer price would have been $1M."...

 Is it possible to compare the hypothetical hammer price to the reserve
price? Does this require an implicit conversion between two radically
different things?

In the original scenario, at the time that the hammer fell, the precise
assets to be used to make the payment are not known. Suppose the buyer
refuses to pay, and is sued for $1M plus interest  for the  breach of
contract.  What do the various tokens  of  "$1M"  that would occur in the
complaint refer to? On What is the interest calculated?

Simon
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