Exploring The Entrapment Game

14. Each year at the college where the author once taught the student government sponsored an endurance contest, a competition to see who could keep a hand on a van the longest. The winner received a gift that was worth several hundred dollars. Some of the people who entered dropped out quite quickly, but when there were two or three individuals who were determined to win, the contest could go on for almost a day. Explain how the competition resembles the entrapment game.

15. If the entrapment game earned money for professors in the classroom, you should expect that someone would figure out how to make money using it for a broader audience. Penny auctions on the Internet are one way that this has been done. The rules of penny auctions are a bit different from those described in the text. How do they work? What is necessary to have a website make money from them? Unlike the auctions described in the text, the bids never get to full retail value. Why not?


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