Recall looser pay winner auction experiment done in class

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Recall the looser pay winner auction experiment done in class

(a) Discuss how these experiments explain why the bidders changed their minds toward wanting to bid well above the value of the prize, even though they refused to do so at the beginning.

(b) Discuss how the experiment explains why George Bush and many citizens changed their minds a out pre-emptive attract on Iraq.

(c) Explain why England wanted to tax trade in the American colonies; which led to rebellion and the formation of the United States.

Reference no: EM13834807

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