How clever fishermen outsmarted a uniform price auction | with Alex Teytelboym
Game Changer - the game theory podcast
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Uniform Price Auction - The Best Thing I Can Do Right Away
In a uniform price auction, you pay the price for every unit that is the market clearing price. If my opponent commits to a strategy like this, the best thing i can do really is to just step back and sa, call, take the half of the market if you know where the crank handle sits. The only troublesome thing is, where should the shaft be? Where should that drop off actually be? And in fact, this was implemented from the very first auction that the government ran.
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