Differs from competitive auctions in that the item is not scarce, but is a digital good that can be sold in multiple copies. The price is dependent on the number of people present in the room, and presumable wanting to buy it.

Of interest, if someone wants to recoup an investment, without profiting excessively from higher demand.

More Information

Mobvend is a Second Life application of this principle, see at http://shep.typepad.com/shep_korvin/2006/11/mobstalking.html

Commentary at http://www.3pointd.com/20070105/crowdpricing-in-second-life/

See also Crowdsourcing and Crowdfunding