[systoll]

Properties go up for auction if the player that lands on them chooses not to buy.

The losing player had the option to bid a total of $4 and get Electric company, Illinois Avenue, Pennsylvania Rail Road, and Baltic Avenue.

Mortgaging those properties would give them enough money to afford rent, and having a mortgaged property is still better than not having the property at all.

It is irrational to not bid up to the mortgage price.

[insickness]

The winning player can still bid to raise the cost to the losing player without winning the bid. In other words, the winning player can bid $100 for Electric Company, forcing the losing player to bid and pay $110 for Electric Company.

[systoll]

Right… but neither player made any bids, because doing so would make the game longer.

If we don’t care about players conspiring to shorten the game, player 2 can go bankrupt before making a move.

Player 1 lands on any property, and puts it up for auction.

Player 2 immediately bids $2000.

Player 2 wins the auction and bankrupts themselves.