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Old 10-20-2016, 07:21 PM
Left Hand of Dorkness's Avatar
Left Hand of Dorkness is offline
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Join Date: May 1999
Location: at the right hand of cool
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Originally Posted by Czarcasm View Post
I think it's an emotional investment the investors have-they have literally spent too much time and too much money to admit that they blew it and, like a gambler that has blown the paycheck and should have left the casino many hours ago, they feel the only way they can retain their honor is to double-down on the bet and pray it pays off.
Fun game: the dollar auction. If you don't want to read it, the way it works is you auction off $1.00 to the highest bidder, which can be a bid as little as a penny. The only catch is, if your bid is second highest, you still have to pay. That is, if the winning bid is $0.25, and you bid $0.24, the winning bidder pays a quarter and gets the dollar, and you pay $0.24 and get nothing.

I've done it with students (with points they'd earned in another game, instead of with real money). The article's description of the shift in mood is exactly what happens.

Wonder if that's what's going on here?