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"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,
by 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)