I also want to register that this kind of auction is known to bias upward for human participants. (I think it’s a Dutch auction but not sure, and currently traveling, so can’t properly look it up). There still seems to be an effect here, but I do think there were also a lot of biases upwards coming together.
I also want to register that this kind of auction is known to bias upward for human participants. (I think it’s a Dutch auction but not sure, and currently traveling, so can’t properly look it up). There still seems to be an effect here, but I do think there were also a lot of biases upwards coming together.