Arriving Today
Slate Money
00:00
Is This the Most Interesting Auction?
Auction tactics are always based on a symmetrical information. Each bidder knows how much they are willing to bid, but they don't know how much the other wa bidder is willing to bid. One person like puts a big sign up outside the auction house saying, i am 100 % committed to spending up to forty seven million and no more on this object. And you're all aware of it. No one does that very good reason. But that is exactly what happened in this case, right?
Transcript
Play full episode
