All value is determined by humans; you can't say that humans undervalue something. That simply doesn't make sense.

What you can say, however, is that humans prefer the statu quo. (Or as you would say, the cost of measuring opportunity costs.)

Any transaction need to provide at least some additional benefit to be considered worthwhile.

For example, I won't sell you my car for only 5% over the market value because it's not worth it for me.

You coming every day and breaking a mirror, a whipper, or steeling a wheel would not correct any economic calculation 'error'.