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That analysis doesn't seem to apply any more when there's a price ceiling (such that every subsequent bid is after that point bids the same price).
by caf 10y ago
That analysis doesn't seem to apply any more when there's a price ceiling (such that every subsequent bid is after that point bids the same price).
- dragonwriter 10y ago> That analysis doesn't seem to apply any more when there's a price ceiling (such that every subsequent bid is after that point bids the same price). Or, as pointed out in the article occurs with penny auction sites, when some bids actually drop the price rather than raising it.