DanielLC comments on Bargaining and Auctions - Less Wrong

29 Post author: Yvain 15 July 2012 05:01PM

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Comment author: AnthonyC 17 July 2012 12:37:40AM 2 points [-]

I think it might be important here that the dealer has to do this many times. Yes, sometimes he will need to take a loss on an item to free up inventory space. But for any particular item, if it doesn't sell it is more likely that the right buyer just wasn't present. If a dealer consistently follows the policy of ignoring his purchase cost, the result is that he goes out of business.

Comment author: DanielLC 18 July 2012 08:07:07PM 0 points [-]

If the dealer has other people he could sell it to, it's an auction, not a bargain.