Bidding &Amp;Amp;Amp; Contractsoffice Of Administration: Fill & Download for Free

Last night I saw a camera lens online that I wanted.It was used. There were no bids.I put in a bid at just over $425.There were 2 hours left in the auction. An hour goes by. No bids. I'm excited. It's an amazing lens.Suddenly. <ding>$430.Oh so you wanna go?!?!?!?Me: $440Him: $455.Oh you think you are a baller, huh?!?!?!?Then this escalates into a full blown bidding war. I am ignoring phone calls as I pound on keyboard.We get to $725. He puts a bid at $730.I then have an epiphany.Dude. Do you really want to bid more than that for a used lens? You can buy it new for $790.I bowed out.There are many situations in life where we don't even realize that we are trying to “win”.The problem is that we are trying to win the wrong game.In life, we often find that the price of winning is losing.

As a competitive chess player, I used to ignore simple games like Tic-Tac-Toe. That is, until an options trader taught me the amazing variant of Bidding Tic-Tac-Toe!The game sounds simple enough:Each player starts off with 100 chips.Each turn (including the first), the players submit a silent bid for how many chips they are willing to spend for the right to make a move.The bids are revealed and the player who made the highest bid pays that amount of chips to the other player and then makes his play.Repeat every turn until the conclusion of the game.So the beginning of the game looks something like this:If you bid “23” and I bid “15” then your bid wins and you have the right to make the first move. If you were to play in the center then the game would now look like this:See? You got to make the first move, but now you only have 77 chips to my 123. That means I have more power in bidding for the next turn, because if you were to ever get below a certain amount of chips (<25) then I could simply bid more than your entire stack 3 times in a row and win by force!This game gets ridiculously complicated and has inspired computer scientists working on artificial intelligence as well as mathematicians in game theory. Give it a try with a friend some time- it’s enormous fun to play and so complicated that it is not clear at all what the optimal strategy is even after many games.Can you even imagine how complicated a game like “bidding chess” would be?

This psychological trick is not only fun but also highly profitable!I didn’t invent this trick, but I’ve used it successfully many times. It requires a group of people, ideally at least 30, and the more competitive the group is, the better, so groups of doctors and lawyers are ideal!It’s called “The Five Dollar Auction.”You stand up in front of the group, and hold up a five dollar bill.You explain that you will auction this five dollar bill off, and the highest bidder gets it, even if the high bid only a dime. Bidding starts at 10 cents, and goes up in increments of 10 cents or more. There’s just one trick to this auction, and that is that when the auction ends, whoever has the second highest bid also has to pay, but doesn’t get anything. Everyone understand?Heads nod, and you ask if anyone will bid a dime for the five dollar bill?Bidding also proceeds quickly at first, and once the bids are at $2.60 and $2.50, you are guaranteed a profit.Bidding continues quickly until the high bid gets to about $4.90. At that point the second highest bidder realizes that they will lose $4.80, unless they bid $5 and break even, so invariably they bid $5. There’s usually a brief pause at this point, but then the other bidder (there’s always only two bidders at this point) realizes that they will lose $4.90 unless they bid $5.10, so better to lose 10 cents than $4.90.Once bids are over $5, the value of the item is forgotten, and it becomes a battle between the two remaining bidders, each of them alternately deciding it is better to bid higher and at least end up with the $5 bill. The competitiveness of the participants really comes into play at this point, and the bidding generally goes into higher and higher incremental bids, and can really go crazy when neither bidder wants to “lose” (even though they will both lose in the end).The best result I ever had was with a group of about 40 surgeons, when the high bid was $410 and the second highest was $400; so $810 for a $5 bill!The only time this came close to not working was when the two remaining bidders realized what was happening, and when the bids were at $20 and $19 they conferenced with each other and agreed to stop the bidding and split the loss evenly. Even in this case, though, the total proceeds were $39 for a $5 bill!Enjoy and good luck!