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by bombcar
778 days ago
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It's entirely because of human nature - you want people to get invested in it, which having them bid any amount does. It's the same reason an auction can go above the price/value of the thing, because you get invested in your $x bid, so $x+5 doesn't seem like paying $x+5, but instead "only $5 more to preserve your win" type of thing. See penny auction scams - https://utahjustice.com/penny-auction-scams - for an extreme example. |
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