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by SamBam
3587 days ago
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You're right, except in the case that someone who has spent >$180 in bids so far might actually realize what a horrible scam this is, and might see that it would be irrational for a person to start bidding at this point, and yet chose to go on because they've already spent $180 and want to at least get something in return for it. In this case, the sunk cost fallacy is what would drive them to keep going, even once they've realized what a terrible trap this "auction" is. |
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