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someonewrongonthenet comments on Open thread, August 19-25, 2013 - Less Wrong Discussion

2 Post author: David_Gerard 19 August 2013 06:58AM

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Comment author: someonewrongonthenet 27 August 2013 03:59:13PM 1 point [-]

I don't think that the service gets more expensive under a second price auction (which Choron uses). If you bid $10 and I bid $100, normally it would go to you for $100. In the randomized case, it might go to me for $100.

Oh yes, that's right. I think I initially misunderstood the rules of the second price - I thought it would be $10 to me or $100 to you , randomly chosen.

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