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by purplerabbit 1302 days ago
What is a reverse dutch auction?
3 comments

The ticket prices start high and are gradually reduced at a set rate until they reach a pre-defined minimum. The idea being that scaplers can't profit off of purchasing early since the official clearinghouse is lowering the price all the time.

People have to make a judgement call on the value of the tickets and purchase at an appropriate time.

Apparently there is actually an approach called "Dutch reverse auction" [0], but that's not what the proposal is about - rather it's a about a regular Dutch auction [1].

[0] https://en.wikipedia.org/wiki/Reverse_auction#Dutch_reverse_...

[1] https://en.wikipedia.org/wiki/Dutch_auction

The buyer says how much they're willing to pay, and the first seller to agree to sell at that price wins the auction.