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Interesting it seems that running for a political office is a type of penny auction.
by foota 10y ago
Interesting it seems that running for a political office is a type of penny auction.
- acjohnson55 10y ago"All-pay auction" is the technical term, a penny auction just being a particular instance. In politics, the person who spends the most doesn't necessarily win, but I can see the analogy. https://en.wikipedia.org/wiki/All-pay_auction https://en.wikipedia.org/wiki/All-pay_auction
- foota 10y agoTrue. Perhaps it's closer to a lottery, the more you put in the greater your chances are that you win? (though not of course per dollar)