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ashemon

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Posts posted by ashemon

  1. People who try to get lowball bargains/snipes on eBay. They should just make it like y!jp where any last second bid extends the auction. That way people just bid what they're willing to pay from the start.

    the dominant strategy is to bid your truthful value on eBay (very similar to sealed-bid second-price auctions)  It's even the auction used for Google adwords

     

    See section 9.4  http://www.cs.cornell.edu/home/kleinber/networks-book/networks-book-ch09.pdf or this section on wikipedia http://en.wikipedia.org/wiki/Vickrey_auction#Proof_of_dominance_of_truthful_bidding

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