Also you cannot bid zero tricks and are not penalized for overbidding.

您也不能出价零手法和不受惩罚，为过高。

In San Francisco, prices are still rising even as frenzied overbidding quiets.

在旧金山，房价仍然在涨，虽然疯狂的出价已经结束了。

Since they have only one chance to bid, fear of losing the item induces overbidding.

由于竞标者只有一次竞标的机会，失标的恐惧诱使他们出价偏高。

India hopes to avoid a repeat of the 1990s round, when some firms crippled themselves by overbidding.

印度希望避免90年代一些公司因出价过高而削弱自己的情况。

“Almost half of all auctions contain overbidding, ” says Assistant Prof. Ulrike Malmendier of the University of California, Berkeley.

“所有拍卖中将近有一半出价过高。” 伯克利市的加利福尼亚大学的助理教授 Ulrike Malemendier指出。

The authors interpret this result as suggesting that subjects experience "fear of losing" and that this fear accounts for their overbidding.

作者们解释了这个结果，认为这暗示了实验对象体验着一种“失标恐惧感”，而且正是这种恐惧感成了喊价过高的原因。

But this leads immediately to overbidding, because risk-neutral equilibrium bidding entails a great deal of shading: a buyer will bid only one-half her valuation.

不过其直接的结果就是喊价过高，因为风险-中性的竞标者在均衡时的喊价要求作相当程度的削减：竞标者的喊价只能是其评价的一半。