3 ms·
The article clearly says that the phenomenon applies only to auctions where the final value is approximately the same to everyone. You describe a situation whe
by robotresearcher 3y ago
The article clearly says that the phenomenon applies only to auctions where the final value is approximately the same to everyone.
You describe a situation where a quick purchase is very valuable to you, so getting the sale is worth a higher bid to you than to someone who could take their time getting a good price, such as an investment buyer.
So the phenomenon is much weaker or irrelevant in your case because all buyers are not estimating the same absolute value to them.