Bad logic costs another Jeopardy contestant the win

[captZEEbo1]

It's REALLY funny to me when people misbid at the end. Let's say their scores are:
Contestant 1: 16800
Contestant 2: 16300
Contestant 3: 12000

Contestant 3 should NEVER bid it all, that accomplishes nothing. His best bet is to bet 5000, in case one of the first two opponents have no confidence in the category and just bet 0. But betting 0 is good too. When contestant 3 bets it all, a few scenarios can happen:
scenario 1: contestant 1 and/or contestant 2 gets it right, so what, they lose anyways
scenario 2: contestant 1 and contestant 2 get it wrong, but you get it right; you win, but you'd also win had you bet 0.
scenario 3: you risk it all, and contestant 1 or 2 doesn't, and everyone gets it wrong, you lose.

It's just funny to me that people that make it past all the tryouts to get on jeopardy, but then don't bother learning optimal end game strategy, and therefore throw away tens of thousands of dollars, and the chance to win more the next day.