3 ms·
In some country that kind of auction is considered gamble indeed and it's against the law (most EU as far as I know). From a Mechanism Design point of view, the
by thomasrossi 10y ago
In some country that kind of auction is considered gamble indeed and it's against the law (most EU as far as I know). From a Mechanism Design point of view, they are maximizing their own profit and they also expect their players to be not very rational entities and so they don't nee to use a truthful auction.