- The professor offers to sell the class a $20 bill. Bidding starts at $1 and goes up in $1 increments. The winner pays the professor whatever the high bid was, and gets the $20. Here’s the catch: the second-highest bidder also has to pay, but gets nothing in return. http://www.nytimes.com/2009/11/15/business/economy/15view.html 124 comments business
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- Play to lose | The Economist http://www.economist.com/blogs/freeexchange/2009/11/play_to_lose 16 comments
- Are Sunk Costs Fallacies? · Gwern.net https://www.gwern.net/Sunk-cost 8 comments
- Play to lose | The Economist http://www.economist.com/blogs/freeexchange/2009/11/play_to_lose.cfm 0 comments
- Are Sunk Costs Fallacies? · Gwern.net http://www.gwern.net/Sunk%20cost 0 comments
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