jkaufman comments on Decision Auctions aka "How to fairly assign chores, or decide who gets the last cookie" - Less Wrong

35 [deleted] 21 January 2014 09:13PM

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Comment author: jkaufman 22 January 2014 12:55:47PM 5 points [-]

This mechanism seems like a Vickrey auction

Looks more like a normal first-price auction to me. "B bids $100, D bids $15, so D 'wins' the bid, and B pays them $15 to go get the kids from their grandma's." The low bidder wins, and receives the amount they bid. In a Vickrey/second-price auction B would pay D $100.