She's not "preventing a more efficient allocation of a scarce resource." She's "preventing reallocation of her own resource." Good for her!
Only she knows what's best for her property. There's nothing irrational about doing what you want with what you got. It's the opposite that's irrational.
Though that's the story being portrayed (because "fully rational person does fully rational things" doesn't get many clicks/much interest), it's quite possible that the actual strategy is as suggested here: https://news.ycombinator.com/item?id=19119286
Only she knows what's best for her property. There's nothing irrational about doing what you want with what you got. It's the opposite that's irrational.