Consumers in auctions are not driven solely by value maximization.

Name: Consumers in auctions are not driven solely by value maximization.
Brand: Quizplus
Rating: 4.8 (39 reviews)

Question

Quizplus · Accepted Answer

Consumers in auctions may be influenced by other factors such as social pressure, emotional attachment to an item, competition with other bidders, and the thrill of winning. These factors can impact their decision-making and may not always lead to value maximization.

Consumers in Auctions Are Not Driven Solely by Value Maximization