OT: Auction Theory wins the Nobel Prize for economics

[conor912]

Interesting read.

https://www.google.com/amp/s/amp.ft....7-0ad1ddcc92e5

[swarmee]

Does it mention Rule 21?

[Snapolit1]

If someone can show me how it makes economic sense for an auction to end at 4:35am to maximize value to anyone I will personally award them a Nobel Prize.

[conor912]

Originally Posted by Snapolit1

If someone can show me how it makes economic sense for an auction to end at 4:35am to maximize value to anyone I will personally award them a Nobel Prize.

Hahaha

[Casey2296]

Originally Posted by Snapolit1

If someone can show me how it makes economic sense for an auction to end at 4:35am to maximize value to anyone I will personally award them a Nobel Prize.

Bars close at 2, takes an hour to grab a bite and get home, 35 minutes of checking bank balance, clock watching, and convincing yourself you can't live without that card.

Commonly known as the Overbidding while Drunk Theorem...