Economists puzzled by irrational eBay buyers - USATODAY.com

Wow. I have not read the actual study, but if USAToday has it even half correct, this is some solid evidence that people do not always act rationally. I guess the alternative explanation will likely be that the bidder gets more utility (bragging rights?) by winning the auction.Economists puzzled by irrational eBay buyers - USATODAY.com: "Ulrike Malmendier, an economist at the University of