Now, if you had just ordered from Amazon in the first place, you’d have only paid the $699. Therefore the formula for the number of bids you should place on QuiBids to get the best price on any product is “C” (the cost of the product) times “P” (the number of people bidding) times zero (the likelihood that you’ll win the bid before giving up). C*P*0 = 0. The result is approximately zero bids.

]]>My original source for the idea was Gerd Gigerenzer’s book Calculated Risks: How to Know When Numbers Deceive You. I recommend anything and everything that he has written.

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