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> so actually the 11th will feel slightly miffed that they weren't able to purchase at that price. Why not including the 11th in the winners? That would solve
by izietto 7y ago
> so actually the 11th will feel slightly miffed that they weren't able to purchase at that price.
Why not including the 11th in the winners? That would solve the "unhappiness" of the 11th bidder; am I missing something?
- benchaney 7y agoIt reintroduces the incentive to cheat in some situations. It also completely falls apart when there can only be one winner, which is a significant portion of the time.
- SamBam 7y agoThere are only ten widgets for sale. So it's not really "why not include the 11th in the winner," it's "why charge the 11th bid and not the 10th?" I think the reason is that everyone feels like they have a good chance of it going for less than they bid (and so they feel happy), but it probably also incentives higher bids.