________ is the tendency to gravitate toward, and bid for, auction listings with one or more existing bids.
A) Group buying
B) Winner's regret
C) Herd behavior
D) Bid rigging

Question

Quizplus · Accepted Answer

Herd behavior describes the tendency of individuals to follow the actions of a larger group or crowd, even if it contradicts their own personal beliefs or preferences. In the context of auction bidding, individuals may be more likely to bid on items that already have existing bids because they perceive those items as more desirable or valuable due to the attention they are receiving from other bidders. This can create a bidding war, driving up the final price of the item.

________ Is the Tendency to Gravitate Toward, and Bid For