Perhaps this is an example of a "dollar auction": A dollar bill is auctioned with these two rules: 1. (As in any auction) the dollar bill goes to the highest

Perhaps this is an example of a "dollar auction": A dollar bill is auctioned with these two rules: 1. (As in any auction) the dollar bill goes to the highest bidder, who pays whatever the high bid was. Each new bid has to be higher than the current high bid, and the game ends when there is no new bid within a specified time limit. 2. (Unlike at Sotheby’s!) the second-highest bidder also has to pay the amount of his last bid – and gets nothing in return. [...] This peculiar game leads to a bad case of buyer’s remorse. The highest bidder pays far more than a dollar for a dollar, and the second-highest bidder pays far more than a dollar for nothing. http://www.heretical.com/pound/dollar.html http://www.heretical.com/pound/dollar.html