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NoahTheDuke comments on Decision Auctions aka "How to fairly assign chores, or decide who gets the last cookie" - Less Wrong
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Once you have a bot to run it, can't you drop the 10% chance of 10x bit and just transfer money every time?
The bot doesn't run the money transfer. It runs the auction (collects bids from everybody, displays bids when all have been collected), and runs a random number generator.
We have also used the same bot to play a Schelling Point Game, where someone names a category (eg "a book") instead of a thing to auction, and we all make a guess (e.g "Strategy of Conflict" or "The Bible") instead of a bid. You get a point if your guess is the same as someone else's.
I'd love to hear more about the bot. How does it work? Where is it run? Can others access it too?
I don't speak Computer, but this is the bot: http://aaronparecki.com/articles/2011/02/12/1/loqi-the-friendly-irc-bot
We use him in a company hipchat room, and I don't know if he has been altered/reprogrammed in any way to run auctions.
Specifically, here's the little add-on for Loqi that conducts auctions: https://github.com/aaronpk/zenircbot-bid