Cordelli, that's a great story.
Priceline's business model is based on asymmetric information, and their profit is tied to how much people will overpay (plus the $6 processing fee). Sheryl's board really throws a wrench into their business model, because we can share information and hone in on how to bid to cut Priceline's profits down to almost zero. I wonder if, with Sheryl's board around, Priceline now occasionally randomizes, and rejects high bids, just to raise the perceived minimum bid that is shared on these boards. Or -- more likely explanation -- the users of Sheryl's board make up a tiny minority of Priceline users, not enough for them to worry about.
So why does Priceline have the 15 minute wait? Is it to discourage automated probing of their system? And/Or perhaps to bolster the idea that Priceline is calling travel providers to shop your bid around?