Auction Politics

I recently saw this exercise on the Psychology Today blog. You get a group of people and auction off a $20 bill. The opening bid is $1 and climbs at one dollar increments. It’s a winner take all scenario. But here is the catch. Both the winner and the runner up (the loser) have to pay.

Now does that sound like politics or what? Of course, there is more than a $20 involved.