This paper analyses a dynamic auction in which a fraction of each bid is sunk. Jump bidding is used by bidders to signal their private information. Bluffing (respectively sandbagging) occurs when a weak (respectively strong) player seeks to deceive his opponent into thinking that he is strong...

Another issue related to bidding strategy is whether to be bold or cautious in opening bidding. The man who strongly desires an item will jump in with both feet, as it were, or try to rout the enemy by starting out with a high, possibly loud, bid intended to "knock out" his opponents. Sometimes...