SH3RL0CK

This is a good observation. While being "fair" and "irrational" may lose you the $1 you may have otherwise gained, it also forces the others to offer more than the $1 because they do need your participation (or at least the participation of a majority). If you are the top guy and a majority of the others won't settle for $1, wouldn't you offer, say $100k each so that you can get perhaps $400k instead of nothing? If you aren't playing "fair" and are being entirely rational, all you will get is the $1 if you are not the top guy. Why settle for that when by being irrational you can get more? Merged post follows: Consecutive posts merged And then sometimes you have to play it out so that others know you aren't just bluffing. So what if you, as exec # 7, lose $1? Its not a big deal because on the next time everyone else knows they have to offer more, perhaps considerably more, to get your participation.

We have not yet met...would love to do so someday.