You are going to participate in the auction. You and others will bid for a $20 bill. There's nothing special about this $20 bill. Auction rules are: Bids start at $1 Bids can only increase by a $1 increment No bidder can make two consecutive bids The highest bidder pays the bid price and receives a $20 bill However, there is a special rule for this auction The second highest bidder also needs to pay his/her bid price but gets nothing What is your strategy for this auction? Are there any concerns about decision-making biases? Please name the biases and explain why you think they are expected in this auction.