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That said, in almost all instances where I've had a bid retraction on an item I've blocked that bidder; the few exceptions have been when a bidder immediately reached out to me to apologize for a fat finger, or when it was the first bid/early bid with an inconsequential dollar amount and the bidder put in a new bid that was conceivably more in line with their original intention (ex: $5 instead of the original $50). That's just been my experience and approach since I know that bid retractions on the surface leave a sour taste in people's mouths.
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+1. I always block bid retractors, especially when they are high bidder for a couple of days, they think they are going to win, so they retract their bid with the "entered the wrong amount" excuse, and do not rebid.