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Look into a dutch auction - multiply the various bid amounts by the number of people that will pay that, and take the highest product - which all successful bid
by thrill 18y ago
Look into a dutch auction - multiply the various bid amounts by the number of people that will pay that, and take the highest product - which all successful bidders pay. For example, it's better to fill 25 offices at $10 per month than 30 at $5. From a fairness perspective all winners are paying the same amount too, and any empty space can be rented out shorter term for larger amounts for inevitable short-term overflow needs.
- ntoshev 18y agoDoes anyone use dutch auctions in practice? They are more complicated, and if you have small increments there is no difference from what I suggested (a 31st-price auction). With big increments there is just rounding error. Or do I miss something?