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Exploring new ways to make charity auctions more effective with positive auctions and unstable equilibrium. Innovative fundraising model incentivizes early bidding and viral growth strategy. Nonprofits leveraging technology and collaboration for problem-solving. Emphasizing innovative approaches, trust-building, and impactful initiatives in addressing challenges.
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Quick takeaways
- Positive auctions boost charity funds by making each bid a nonrefundable donation.
- Introducing virality in fundraising through custom links increases engagement and expands reach of charitable auctions.
Deep dives
Positive Auctions for Charity Fundraising
Traditional charity auctions face a challenge where bidders seek bargains and charities aim to maximize funds. A positive auction introduces a novel approach where each bid represents a nonrefundable donation directly to the cause, boosting contributions significantly. For instance, an $800 item sold for $235 generated over $2,400 for the charity, showcasing the impact of this innovative fundraising strategy.
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Listen to the best highlights from the podcasts you love and dive into the full episode