3 ms·
That encourages driving up the price then dropping out to increase how much you get.
by Gaelan 9y ago
That encourages driving up the price then dropping out to increase how much you get.
- wyager 9y agoYou can structure your auction in different ways to discourage this sort of bad behavior. For example: https://en.m.wikipedia.org/wiki/Vickrey–Clarke–Groves_auction https://en.m.wikipedia.org/wiki/Vickrey–Clarke–Groves_auctio... There's lots of auction theory describing good ways to sell things like parking spaces.
- Symmetry 9y agoThat would require someone to take a big risk for a benefit they would only get a small share in.