You can test this in boardgames about auctioning: See Modern Art, a game about profiting from art, where you have multiple forma of bidding. Part of the game is

You can test this in boardgames about auctioning: See Modern Art, a game about profiting from art, where you have multiple forma of bidding. Part of the game is to figure out when each auction will provide the most money. Blind bidding doesn't let people improve their bid, but it also lets someone bid much higher than the second best bid, so it can be extremely profitable in some situations. Compare to a version of said auction where you bid only once, but where the winner will only pay the second best bid plus one.