Quote:
Originally Posted by Mark17
If someone had access to bidders' secret maximum bids and manipulated them upwards, that would be a completely different scenario than what we have been discussing, and that would certainly result in artificially inflated prices.
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Why? They paid voluntarily. Nobody made them leave a ceiling bid.
But beyond that, that describes only a small part of the transactions identified in Mastro. Most were people placing bids with the intention of driving up the price and, allegedly, as a result the winners paid more, just like my example where you said I manipulated myself.