@Tesla : They said they would kill him if not satisfied, he needed to reveal it so he could drop enough to not die. That is jot moronic, it is the minimum to guarantee survival. Don't call someone a moron if you do not actually understand the situation.
@Memerk : the normally killing merchants is mostly bad writing, bandits rely on not making to much trouble to stay under the radar, if they start killing everyone, and slaving all the women like in most series, then they go up the radar very fast. They would be closer to modern gangs, most muggers are not going to kill you once they have your wallet, since the murder brings more attention, so just the wallet is much safer.
Also, intimidation tactics work as was seen with pirates who would often be able to raid a ship and get the cargo with out firing a shot or killing anyone. If the merchants thought it was fight or dies, it would have been a fight to the death every time, and their vessels (and crew) would not survive that for long.