> second, while they are away from the computer and unable to respond). Of > course sniping is technically irrational, or perhaps it is a rational > response to others' irrationality -- I'm not sure. In case it hasn't been discussed here before (I couldn't find a list archive): "sniping" means bidding just before the end of an auction, with the goal of preventing irrational bidders from reacting to one's bid. Sniping is rational because it withholds from competitors a critical piece of information: that someone else is willing to bid more for an item than they have bid. Based on small number of eBay purchases (roughly 5 auctions without sniping and 15 with sniping) I believe sniping to be a good strategy. The cost of sniping is very small given appropriate software: http://www.midwestcs.com/bidwatcher/ By the way, are economists using eBay to test their hypotheses? Seems like a marvelous source of data. John
