3 ms·
> I think the Judge maybe naive in thinking that re-running an auction will generate more money (normally it will generate less, as the losing bidders will drop
by chollida1 2y ago
> I think the Judge maybe naive in thinking that re-running an auction will generate more money (normally it will generate less, as the losing bidders will drop out) but he did not agree with Jones' claims.
What evidence are you basing this on?
- ajb 2y agoI no longer remember the title of the paper but it was on the Gordon-Brown-era spectrum auctions. Basically if bidders can obtain information about each others preferences other than via the auction - or in some cases even via the auction - the expected price is lower. I think it applies when a limited number of bidders are interested. If Elon is interested then all bets are off :-)