Negative Auctions


You can use negative auctions to dispose of goods that no one wants. Imagine that you need to send some employee to Buffalo, New York, for a week, but no one wants to go, You’re unwilling to force someone to attend. You could hold a negative auction, where each employee bids for the minimum amount you would have to pay him to attend. The person bidding the least gets the money and the trip.




Game Theory at Work(c) How to Use Game Theory to Outthink and Outmaneuver Your Competition
Game Theory at Work(c) How to Use Game Theory to Outthink and Outmaneuver Your Competition
ISBN: N/A
EAN: N/A
Year: 2005
Pages: 260

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