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by jacquesm
4401 days ago
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> The partner who names the higher price then buys the company at the price half way between the two prices. That's a nice twist. I used 'person that quotes highest buys out the other parties at that price', but yours is even better I think. Thanks! |
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The parent way can be gamed: the loser may benefit from deliberately bidding a bit higher than they would otherwise to force the winner to pay more.
(Although you can argue this both ways, and auction theory does, I feel like this quirk could create animosity)