calor licitantis
n.β Β«Confused, the team tried a larger sampleβthis time observing thousands of iPod auctions. In that case, 45 to 50% of eBay auctions exceeded the “buy it now” price, she says. Expanding the pool again, they found that the quirk affects expensive and cheap items, menβs cologne and womenβs perfume, and books by liberal Sen. Barack Obama and by conservative commentator Bill OβReilly. The Romans had a term for this auction-house “curse,” Malmendier says, “They called it calor licitantisβbidderβs heat.”Β» ββEconomists puzzled by irrational eBay buyers” by Chris Gaylord USA Today July 17, 2007. (source: Double-Tongued Dictionary)