Suppose the government wants to purchase 3 lands lots to build a school, which creates a social value of 100. And each land owner values his lot at 20.
However, since if there is one owner that doesn’t allow the purchase, the deal can’t be made. Since every land seller may recognize this problem, they made make a relatively higher price than the original value.
In Chinese, this is called “抵制/坚持问题”
Reference:
坚持问题 Holdout Problem: 最新的百科全书、新闻、评论和研究 (academic-accelerator.com)