"Idiot" is wrong - "unable too coordinate" Imagine a game - a game master auctions off a $100 bill and the players get to bid any amount that's more than a previous bid and the winner when bidding stops gets the bill. One catch though - win or lose everyone pays his highest bid https://twitter.com/Logo_Daedalus/status/1303040507816357888 …
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It's not though. If you stop bidding you don't get the $100 to offset your losses - it's always worth bidding $1 to gain $100 - the position is the same if your current bid is $0 or $1000 - your current bid is a sunk cost.
End of conversation
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