[rescue] Wow

[Patrick Giagnocavo]

On Tue, Apr 30, 2002 at 12:20:51AM -0400, Kurt Huhn wrote:
> > *Sigh* it's not a game, it's a transaction.  If they're willing to pay more
> > for it than I am, they get it.  It's that simple.
> > My disappointment lies in watching the final bid price on an item jump up by
> > $25 or $50 as people rush to try to outbid me and just end up jacking the
> > price up.
> > 
> 
> *YOU* don't think it's a game.  The truth is that it *is* a game. 
> There's nothing wrong with that.  The transaction occurs after the dust
> settles and a winner emerges.  It's a game of bluffs, hedges, and
> patience.  Just because it's online doesn't make it any different from a
> cigarrette smoke-filled barn.

My thinking is that by sniping you are denying the other people
information until it is too late to be of use to them.  

If I knew more game theory I could be more formal about a description
of how it all works - but obviously if you told everyone at an auction
exactly how much you were going to bid on each item you couldn't
expect to get the best pricing.

./patrick