Question

Prices are signals. In two paragraphs or less, explain what you think Abraham was signaling by insisting on paying for Sarah’s tomb in Genesis 23?

The Death of Sarah

23 Sarah lived to be a hundred and twenty-seven years old. 2 She died at Kiriath Arba (that is, Hebron) in the land of Canaan, and Abraham went to mourn for Sarah and to weep over her.

3 Then Abraham rose from beside his dead wife and spoke to the Hittites.[a] He said, 4 “I am a foreigner and stranger among you. Sell me some property for a burial site here so I can bury my dead.”

5 The Hittites replied to Abraham, 6 “Sir, listen to us. You are a mighty prince among us. Bury your dead in the choicest of our tombs. None of us will refuse you his tomb for burying your dead.”

7 Then Abraham rose and bowed down before the people of the land, the Hittites. 8 He said to them, “If you are willing to let me bury my dead, then listen to me and intercede with Ephron son of Zohar on my behalf9 so he will sell me the cave of Machpelah, which belongs to him and is at the end of his field. Ask him to sell it to me for the full price as a burial site among you.”

10 Ephron the Hittite was sitting among his people and he replied to Abraham in the hearing of all the Hittites who had come to the gate of his city. 11 “No, my lord,” he said. “Listen to me; I give[b] you the field, and I give[c] you the cave that is in it. I give[d] it to you in the presence of my people. Bury your dead.”

12 Again Abraham bowed down before the people of the land 13 and he said to Ephron in their hearing, “Listen to me, if you will. I will pay the price of the field. Accept it from me so I can bury my dead there.”

14 Ephron answered Abraham, 15 “Listen to me, my lord; the land is worth four hundred shekels[e] of silver, but what is that between you and me? Bury your dead.”

16 Abraham agreed to Ephron’s terms and weighed out for him the price he had named in the hearing of the Hittites: four hundred shekels of silver, according to the weight current among the merchants.

17 So Ephron’s field in Machpelah near Mamre—both the field and the cave in it, and all the trees within the borders of the field—was deeded18 to Abraham as his property in the presence of all the Hittites who had come to the gate of the city. 19 Afterward Abraham buried his wife Sarah in the cave in the field of Machpelah near Mamre (which is at Hebron) in the land of Canaan. 20 So the field and the cave in it were deeded to Abraham by the Hittites as a burial site.

Answer 1

Prices are indeed signals. They convey a lot of messages about the demand of a product, its importance, the preferences of people, etc. in economics.

However, prices signal a lot more than mere economic value. Here, Abraham was insisting the people to sell him their land because it was his way of expressing how important his wife was to him. He wanted to signal about his love for his wife and what value she had in his life.

He could have buried her without paying to Ephron as he was willingly offering him the land but he didn't. It would have signalled that his wife was not worth anything to him.

By paying Ephron, four hundred shekels of silver, Abraham conveyed that his wife was at least worth these many shekels to him.

(Though it might seem odd to value beloveds in monetary terms, this is the rationale behind this)