December 2009
6 posts
Rain drop check box →
Maximize your browser for this one.
The dollar auction game
I heard about this game on a game theory blog.
The game involves someone auctioning off one dollar. Bidding starts at 5 cents and bids increase by five cent increments.
There are two main components to the auction.
The auction ends when no one bids higher. The highest bidder pays the price of his bid and gets the dollar as a prize.
The second highest bidder is also forced to pay his losing bid...
“Apple should pull the plug on the iPhone… What Apple risks here is its...”
– John C. Dvorak, 28 March 2007