quote:"Making"? I don't see a gun pointed at their head.
Of course its not forcing them physically but a bidder can be pyschologically influenced to bid higher. As time goes on and bidders are thinking and thinking about their bid, the bidders desire for a product grows. For example, if its a Friday night and your friends want to take you out but your not in the mood, your friends after some time of trying to convince you to go out with them, can change your mood to want to go out too. If your friends then turned around and said forget about it they changed their minds, and don't want to go out anymore after you want to now, you would be very upset. Like these auctions. As time goes on, your desire for the product increases until the thought of lossing to another bidder is not pleasing. So, you wind up bidding higher then market value. Simple question: Have you ever entered a bid higher then you planned on initially? What do you think of this?