Prebidding boosts profits in auctions, changing game for bidders worldwide!
The article explores how prebidding in auctions affects the final bid amount. When one bidder places their bid before others, it can increase the expected highest bid, but this boost isn't always significant. In some cases, prebidding auctions with all bidders may not be as profitable as auctions with one less bidder. However, giving the first bidder a head start can make prebidding auctions more profitable than auctions with one less bidder.