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by duncanawoods
3576 days ago
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I saw a talk by Ken Binmore, the organiser of the auction and author of the paper. He found it very funny how each participant turned up with teams of Nobel prize winning economists and mathematicians. He said the correct way to approach such an auction is to decide up front what the value is to you and then bid up to but not beyond that figure. That is all. There are plenty of foolish things you can do but nothing better. |
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That's the tricky part ;)