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<p>[QUOTE=&quot;-jeffB, post: 1553874, member: 27832&quot;]If all eBay users were rational actors, and they all had perfect knowledge of each lot, it wouldn&#039;t matter whether you sniped or placed your bid at the beginning.</p><p><br /></p><p>Since not all eBay bidders are rational, seeing the price go up can egg them on to bid more than they otherwise would.</p><p><br /></p><p>Since not everyone has perfect knowledge of every lot, placing your high bid early -- where another high bidder can cause it to be exposed -- exposes your knowledge (or misconception) of the lot&#039;s worth, which can influence other rational bidders. (&quot;Someone bid that up to $100? Let me take a closer look -- hey, is that an S on the back of that 1913 quarter?&quot;)[/QUOTE]</p><p><br /></p>

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