Who wouldn't pay a penny for a sports car? The right strategy doesn't guarantee advantage in auctions, real estate or stock market

In a study of lowest unique bid auctions, researchers asked: Who wins these auctions, the strategic gambler or the lucky one? The answer is the lucky. But, ironically, it's a lucky person using a winning strategy. The researchers found that all players intuitively use the right strategy, and that turns the auction into a game of pure chance. The findings provide insight into playing the stock market, real estate market and other gambles.

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