Unless you enjoy misery, trolling, and derive satisfaction from forcing other people to make stupid decisions. Personally I'm more than happy losing a bid if I

Unless you enjoy misery, trolling, and derive satisfaction from forcing other people to make stupid decisions. Personally I'm more than happy losing a bid if I make someone else suffer winner's curse just because they are blinded by escalation of commitment and a long list of other biases. One of my favourite speeches touching on the subject: The Psychology of Human Misjudgement - Charlie Munger Full Speech bit about auctions is at 59:30 https://youtu.be/pqzcCfUglws?t=59m30s https://youtu.be/pqzcCfUglws?t=59m30s text https://buffettmungerwisdom.files.wordpress.com/2013/01/mungerspeech_june_95.pdf https://buffettmungerwisdom.files.wordpress.com/2013/01/mung...