Talk:Dollar auction
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[edit] Adding material
I've expanded the Setup section, as without my additions, the description was insufficiently detailed and it did not explain clearly enough what happens to anyone unfamiliar with the topic. I used my own lecture notes which were based on the Colman reference as a guide, and added a reference to that book in an appropriate place later on. I hope that doesn't upset anyone here. DDStretch (talk) 12:44, 27 July 2007 (UTC)
[edit] Winning strategy
Isn’t it a winning strategy not to play? Roman V. Odaisky 20:40, 28 July 2007 (UTC)
- In addition it would seem that if the first bidder bids 99 cent noone has a motive to bid higher, so that the best one can do, would be to gain 1 cent 87.66.222.129 18:24, 3 October 2007 (UTC)
[edit] moved from article
"Additionally, this game is not an auction, per say, but gambling. As gambling, the choice to enter into it with more money than one is willing to lose is an irrational decision. The claim is perfect information, but calling gambling an auction confuses people and distorts one's perception of how to calculate returns, resulting in actions consistent with auctions prior to the $1.00 bid, and actions consistent with gambling after that point." contributed by 70.152.255.102. Pete.Hurd 15:25, 24 September 2007 (UTC)
If this was "re"moved, why, or if it was simply moved, where can I find it? --the person who added this notation. —Preceding unsigned comment added by 132.170.49.6 (talk) 19:07, 11 October 2007 (UTC)
- It was moved from article to here, because
- it's wrong: the dollar auction is most certainly an auction.
- any claim otherwise ought to be supported by verfiable reliable sources, per WP:V and WP:RS, otherwise the claim amounts to original research.
- the writing was poor, in an inappropriate tone among other things, which confused the points. What is "The claim is perfect information, but calling gambling an auction confuses people and distorts one's perception of how to calculate returns, ..." supposed to mean? How does perfect information (which is the case in this game) play into the point you are trying to make about gambling?
- Pete.Hurd 19:24, 11 October 2007 (UTC)
All auctions, on some level, relate to gambling: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=905606 This auction is more closely related to gambling because of the additional requirement that the losing bidder must also pay: http://en.wikipedia.org/wiki/Betting_(poker) VS http://en.wikipedia.org/wiki/Auction It could be considered a type of "all-pay" auction, which is generally used in charity cases, where all bidders are not in it so much for the prize as much as wanting to help the charity. So yes, it is an auction, but not one in the traditional sense. Tone: If your claim is that my writing had a tone (which was certainly not my intent) then how can you argue that using a certain 'tone' of words in describing the game would not change anything? Perfect Information and Gambling? http://links.jstor.org/sici?sici=0363-7425(198604)11%3A2%3C311%3AECTACO%3E2.0.CO%3B2-U Escalation of Commitment is extremely rare in cases of Perfect Information. The most obvious case where it does occur, is gambling. That was what I was trying to explain.20:09, 19 November 2007 (UTC)
[edit] Why is there a picture of a dollar here?
Just out of curiosity, why is there a picture of a dollar in here?
The dollar's not in the act of being auctioned, most people who read this article are going to know what a dollar looks like, and in any case, dollar auctions (or, I suppose, currency auctions) can just as easily use any currency.
Anybody care to defend the image? superlusertc 2007 December 23, 15:30 (UTC)
