> 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 b
Only if the playstation 2 is inifinitely lived and there is no declining
marginal utility on the unit.
- Original Message -
From: Bryan Caplan <[EMAIL PROTECTED]>
To: <[EMAIL PROTECTED]>
Sent: Wednesday, December 20, 2000 9:17 AM
Subject: Re: PS2 weirdness, cont.
> Eric
Eric Crampton wrote:
>
> Reflection of time preference. When the things first came out, the time
> at which one could be expected to be had at the stores was far off. Now,
> it's not so far off and so prices are lower. Will converge down to
> MSRP
You don't even need time preference. Con
Reflection of time preference. When the things first came out, the time
at which one could be expected to be had at the stores was far off. Now,
it's not so far off and so prices are lower. Will converge down to
MSRP
Eric Crampton
On Tue, 19 Dec 2000, Ananda Gupta wrote:
> On further ref
On further reflection, I realized that I had not considered eBay's time
delay, which of course allows "sniping" (outbidding someone at the last
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 t
