5 ms·

We are transparent about the fact that there is no tangible benefit to bidding.

• prodigal_erik 15y ago
  If only the winner pays, it's just a silly game. But when the losers also pay, it becomes a genuinely abusive exploit of human irrationality which most people are not aware of. Please take it down. http://www.mediate.com/articles/noll1.cfm http://www.mediate.com/articles/noll1.cfm http://www.heretical.com/pound/dollarl.html http://www.heretical.com/pound/dollarl.html http://www.pbs.org/wgbh/nova/body/mind-over-money.html http://www.pbs.org/wgbh/nova/body/mind-over-money.html
  • drivebyacct2 15y ago
    Lots of huge businesses are based on irrationality. Cigarettes, gambling, etc. A fool and their money are easily parted.
    • scrod 15y ago
      And those businesses are accordingly regulated by society. But good luck trying to foster that winner-takes-all free-market world of yours. I'm sure it'll be a real blast.
  • csallen 15y ago
    Except none of those are good analogies to what's going on here, where people aren't actually bidding on something of monetary value. I find it hard to buy your argument that this is in any way unethical.
  • Tichy 15y ago
    The losers are winners until another winner comes along.