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Monday, February 8, 2010

Another Cash Penny Auction

February 8, 2010

“No matter what the stage of the bidding, the second-highest bidder can improve his position by almost a dollar by barely topping the current high bid. Yet the predicament of the second-highest bidder gets worse and worse! This peculiar game leads to a bad case of buyer’s remorse. The highest bidder pays far more than [...]

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