How clever fishermen outsmarted a uniform price auction | with Alex Teytelboym
Game Changer - the game theory podcast
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Using Auctions to Allocate Fishing Quota
Using auctions to allocate fish ang quota is even rarer still. The country where i studied this is the ferro islands, which is located in the atlantic between iceland and the uk. 99 percent of its exports are fisheries based, agriculture based. About half of the g d p is related to fishing and agriculture. So it's a highly important resource for the ferroes. And the format that they con verged on when they decided to sell the fishing quota was, in fact, the uniform price format. They used other formats too, but one of the ones that i guess I'd love to tell you about is the auction formida. Fully makes inser.
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