The Rationale of the Tulip Bulb Trade

There is no correct amount to pay for a tulip bulb. There's a market price. Tulip bulbs aren't worth an intrinsic amount. And so in this case, where there was no reason to think that people would not purchase bulbs for this price, there was nothing irrational about getting involved in this market. But what would be irrational would be to continue in the market once it was clear that that wasn't the case.