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If an item of price $x$ is stolen from me or lost (assume that it is never going to be found again or returned to me), and I replace it by buying it again, but at its current price $y$, what is my actual loss? Is it $x$, $y$ or $y-x$?

This question stems from a real life experience where my train tickets were stolen from me and I had to repurchase the same ones at a higher price.

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This would be better placed at economics.stackexchange.com, I think. But since before the event you had the item and a sum $y$ of money and after the event you have an equivalent item but not the money, it seems clear that your loss is $y$. I wouldn't call that an estimate -- it's your exact loss. –  joriki Apr 27 '12 at 8:52
Thanks @joriki! I edited the question because I agree that it's the actual loss and not an estimate. –  SNag Apr 27 '12 at 9:02

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up vote 2 down vote accepted

After the theft and replacement, you still have the exact same items you had before (assuming as in the example that the replacement is strictly like-for-like), but you have $y$ less money. Thus your loss is $y$.

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Yes, if you replace you product with a better product other price your loss changes. –  checkmath Apr 27 '12 at 9:11

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