Poll

What would you bid?

$699
6 (26.1%)
$1
17 (73.9%)

Total Members Voted: 23

Author Topic: One-Bid Dilemma  (Read 661 times)

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Offline crazypackersfan

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One-Bid Dilemma
« on: April 15, 2019, 01:56:34 PM »
Scenario: the person (3rd to bid) before you bids $700 (everyone else over $701). You have seen the item on the show before and are almost positive the price is $699. Do you bid $699 and try to win the $500 cash but risk overbidding, or do you bid $1 and take the guaranteed trip up on stage?

(Note: this would be more common in the Roger era than today.)

Offline LiteBulb88

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Re: One-Bid Dilemma
« Reply #1 on: April 15, 2019, 02:00:59 PM »
$1. The prize on stage I'd be playing for is going to be worth much more than $500, so it's not worth the risk that the one bid is $698 for whatever reason that day.

Online gamesurf

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Re: One-Bid Dilemma
« Reply #2 on: April 15, 2019, 02:13:19 PM »
$1. It's impossible to think straight in the studio, the odds that I might make an error and misremember a prize are too high.
In that situation I couldn't blame anybody for being unable to answer "what's your name and what do you do" right.

$500 and some cred among my friends is nice, but my real dream is to get to play a pricing game.

Offline TPIRfan#9821

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Re: One-Bid Dilemma
« Reply #3 on: April 15, 2019, 03:30:41 PM »
Neither. I bid $500, since that's the bare minimum an IUFB can be nowadays, and there is a very slim chance that the price is $500.
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Offline SilverFirePrime

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Re: One-Bid Dilemma
« Reply #4 on: April 15, 2019, 04:35:27 PM »
$1

To me, the chance to play a pricing game - even for a quickie for a prize package I might not even end up accepting - is worth way, way more than $500.

Online gamesurf

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Re: One-Bid Dilemma
« Reply #5 on: April 15, 2019, 09:08:30 PM »
Neither. I bid $500, since that's the bare minimum an IUFB can be nowadays, and there is a very slim chance that the price is $500.

Bidding $1 is the ultimate flex though. It's not just strategy, it's also a taunt.

You're saying to your opponents, on national TV, "I'm so confident your bid was wrong, I'm going to bid something impossible, and I still think I'm gonna come out ahead."

$500 is nice, but THAT experience is definitely worth something too :-)

Offline JayC

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Re: One-Bid Dilemma
« Reply #6 on: April 16, 2019, 12:00:01 PM »
I would bid $1 just to guarantee getting on stage. Bidding $699 after someone bid $700 is just too risky.

Offline jhc2010

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Re: One-Bid Dilemma
« Reply #7 on: April 16, 2019, 09:08:39 PM »
I would argue that a $1 bid is never correct strategy unless you are 100% all of the other bids are over. Does anyone else agree?

Online gamesurf

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Re: One-Bid Dilemma
« Reply #8 on: April 16, 2019, 10:50:25 PM »
You're right that pure strategy dictates you should only and always 1-up somebody if you're the 4th bidder, cause if you're wrong and everyone went over you'll get another chance to bid again.

But there's way more than pure strategy at play here. Maybe I'm sharing the row with a sweet old grandmother, and I can't bring myself to 1-up her on national TV when I'm gonna have to justify to all my real-life friends why I saw fit to throw Ethel under the bus.

On the flip side, if I'm in a position where I can confidently bid $1, I'm framing that photo and putting it on my wall. 50 years from now I'm gonna be telling my grandkids about the time I bid $1 on The Price is Right. It's the ultimate flex. After all, it's not MY fault everyone else went over.

Maybe you have a good reason for not wanting to go into extra bidding rounds. Maybe you don't want to give the other three contestants a chance to get their bearings straight and think things over one more time.

Or suppose it's 2005. The show's done live-to-tape. It's the 6th game. They haven't played a car game yet. If you 1-up, you know Bob will get annoyed and hurry you all into bidding again very quickly, and the winner will get 45 seconds less to play for a car.

Offline jhc2010

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Re: One-Bid Dilemma
« Reply #9 on: April 16, 2019, 11:29:26 PM »
The third bidder often gets too frustrated when the final bidder $1-ups them. If the 1-upper is correct, the third bidder will now be the final bidder on the next IUFB.

Offline pricefan18

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Re: One-Bid Dilemma
« Reply #10 on: April 16, 2019, 11:31:26 PM »
You're right that pure strategy dictates you should only and always 1-up somebody if you're the 4th bidder, cause if you're wrong and everyone went over you'll get another chance to bid again.

But there's way more than pure strategy at play here. Maybe I'm sharing the row with a sweet old grandmother, and I can't bring myself to 1-up her on national TV when I'm gonna have to justify to all my real-life friends why I saw fit to throw Ethel under the bus.

On the flip side, if I'm in a position where I can confidently bid $1, I'm framing that photo and putting it on my wall. 50 years from now I'm gonna be telling my grandkids about the time I bid $1 on The Price is Right. It's the ultimate flex. After all, it's not MY fault everyone else went over.

Maybe you have a good reason for not wanting to go into extra bidding rounds. Maybe you don't want to give the other three contestants a chance to get their bearings straight and think things over one more time.

Or suppose it's 2005. The show's done live-to-tape. It's the 6th game. They haven't played a car game yet. If you 1-up, you know Bob will get annoyed and hurry you all into bidding again very quickly, and the winner will get 45 seconds less to play for a car.

you misunderstood I think, it's about going $1 UNDER, not over here

Offline jhc2010

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Re: One-Bid Dilemma
« Reply #11 on: April 16, 2019, 11:34:26 PM »
you misunderstood I think, it's about going $1 UNDER, not over here
Yes, I was not replying to the original post.

Offline Teddy

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Re: One-Bid Dilemma
« Reply #12 on: April 17, 2019, 07:26:04 AM »
I would bid $1, if only because I wouldn't want to get buzzed and therefore be required to bid again. Of course, unless you're the last bidder, the next one in line could say $2 or anything less than $100.