You bid, you win, you pay the amount that you bid. That’s the rule for auctions, right? And that’s why you want to make the lowest bid you think will win. One type of auction, though, takes the guesswork out of it with economic theory.
Imagine that your boss wants you to work, but you'd rather watch cat videos. Your best strategy is to learn your boss's patterns so that you'll appear hard at work only when she's watching. New research shows that chimpanzees are better than humans at making this kind of Machiavellian deduction.