Observation of the transaction suggests that the man values the bottle of water more than the two dollars he forgoes to acquire it. Yet, despite the possibility of repeating the transaction on identical terms, he chooses not to do so. In the course of buying the bottle of water, the man does demonstrate a preference for what he purchases over what he pays for it. However, he also demonstrates an “opposite” preference by forgoing an identical transaction later on. Although each water bottle is physically identical, their value to the man is not the same.