A wine-loving economist purchased some nice Bordeaux wines years ago at low prices. The wines have greatly appreciated in value, so that a bottle that cost only 10 when purchased would now fetch 200 at auction. This economist now drinks some of this wine occasionally, but would neither be willing to sell the wine at the auction price nor buy an additional bottle at that price. E.g., suppose WTA=300 and WTP=50. Is there path dependence