Ebay is in the process of changing the way it shows bids on items. You will no longer get all the information about bidders on ebay. This is to protect them from unsolicited offers to sell them things, something that active sellers and buyers have been asking for. As to why people over bid on ebay I'd say it's because they get caught up in the process and just cannot stand to have someone out bid them. The same thing happens at live auctions all the time. The great thing about America is you have many places to buy things and no one can force you to pay more than you want to for anything. In a free market the value of an item is what someone is willing to pay for it, not what you or I may think it is worth.