> IMHO blind bidding is an unethical practice that should be outlawed regardless of its impact on housing prices.
Why? There’s no special virtue ascribed to the purchaser v.s. the seller.
Nothing stops the purchasers from standing in front of the property and publicly announcing their bids (outside of game theory). If they’re bidding less than they are willing to pay, then de facto they’re low balling the seller. There’s no gun to their head to purchase a particular house.
Why? There’s no special virtue ascribed to the purchaser v.s. the seller.
Nothing stops the purchasers from standing in front of the property and publicly announcing their bids (outside of game theory). If they’re bidding less than they are willing to pay, then de facto they’re low balling the seller. There’s no gun to their head to purchase a particular house.