Following The Herd On eBay
from the shopping-mentality dept
An amusing article over at the NY Times discussing one woman's attempt to buy a clock on eBay. She came up with three potential clocks, but bid on the most expensive (which also had the most bids) assuming that everyone else was bidding on that clock for a reason. It seems that people follow that "herd instinct" on eBay a lot - driving up the prices of some products, while completely missing great deals on other, similar products.
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