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Why We Overbid For Old Junk On eBay

arstechnica:
Economists have known for years that people tend to overbid on items up for auction. But experts did not know the reason behind our seemingly irrational behavior.
Economists and neuroscientists from New York University teamed up to study this classic economic problem, and they published their results in Science. Using brain imaging along with carefully constructed […]

Dirt Anything But Dirt Cheap On eBay

amNewYork:
Ever thought you would pay good money for dirt? Savvy entrepreneurs are hoping to capitalize on Yankees fans’ love for their cherished stadium by selling dirt from the baseball field for as much as $199.99.
The offers were found on eBay and Craigslist yesterday, along with ticket stubs from the last game played at the House […]

eBay To Abandon Auctions

The New York Times:
Acknowledging that most online shoppers cannot be bothered with auctions, eBay plans Wednesday to announce changes to its fee structure that emphasize fixed prices over bidding. The move is intended to help eBay compete more effectively with Amazon.com and other big online retailers.
The announcement, timed to increase sales during the holiday shopping […]