All pay auction
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All pay auction
http://freakonomics.blogs.nytimes.com/2008/12/16/an-all-pay-auction/
This article does a very good example on how the rate of auction changes as well in an all pay auction. It goes to show that in an all pay auction, people’s decision changes as the auction proceeds. It also demonstrates how the seller stands to gain as much as three times the amount being auctioned.
This article does a very good example on how the rate of auction changes as well in an all pay auction. It goes to show that in an all pay auction, people’s decision changes as the auction proceeds. It also demonstrates how the seller stands to gain as much as three times the amount being auctioned.
heng.tan- Posts : 17
Join date : 2009-04-01
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