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Google Wave Invite & Auction Experiment


Oct 14 2009, 05:23 AM (Post #1)
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So on the first day of my econ class, we proved that the optimal bidding strategy in a sealed-bid second-price auction with reserve price is to bid your true value—for example, if the bid were for a car, you would bid your true net value for the car.

So in the spirit of that, I am auctioning off one Google Wave invite to the highest bidder, for the second highest bid (only in zeny). I don't really care about my zeny anymore (I earn more on interest a day than I can spend), but am interested in everyone's participation.

PM me your bid, and post here (Not your bid)

Reserve price: 100,000 zeny.
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Oct 17 2009, 06:26 PM (Post #16)
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QUOTE (Heartless Krab @ Oct 16 2009, 10:44 AM)
My true value is lower than your reserve. If I wanted to be an a*shole, I'd bid more than keese has.
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o.o That reminds me of one thing regarding the auction theory. It excludes the intermingling effects, i.e. agent 1 who is better off if agent 2 does NOT get whatever's being auctioned. For example, suppose Verizon and AT&T are bidding for a single spectrum; even if the true value of the spectrum to AT&T weren't 1B, it might bid 1B because whatever Verizon loses is to AT&T's advantage.

Jay seems to have caught onto that stongue.gif He seems to get joy from screwing with people.
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Oct 17 2009, 11:10 PM (Post #17)
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well, that would just give it to the other fellow then, same difference. Should just not bet, and screw the other fellow over who could have gotten it for almost nothing if only two people bet.
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Oct 18 2009, 05:07 AM (Post #18)
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QUOTE (Jinghao @ Oct 17 2009, 01:26 PM)
o.o That reminds me of one thing regarding the auction theory. It excludes the intermingling effects, i.e. agent 1 who is better off if agent 2 does NOT get whatever's being auctioned. For example, suppose Verizon and AT&T are bidding for a single spectrum; even if the true value of the spectrum to AT&T weren't 1B, it might bid 1B because whatever Verizon loses is to AT&T's advantage.

Jay seems to have caught onto that stongue.gif He seems to get joy from screwing with people.
*


speaking of which, where did he get 17M zeny from?
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Oct 18 2009, 05:57 AM (Post #19)
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QUOTE (Derp @ Oct 17 2009, 09:07 PM)
speaking of which, where did he get 17M zeny from?
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Tons of posts?
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Oct 21 2009, 04:48 AM (Post #20)
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Hey sorry guys, I totally didn't expect this. Someone offered to pay 36 dollars for my invite, so... unless you plan to up-bid that, it's sold.

No amount of zeny would trade for $36 stongue.gif Sorry
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Oct 21 2009, 01:55 PM (Post #21)
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Aww. I can't even click on the Mesothelioma ads a whole bunch of times?
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Oct 21 2009, 02:23 PM (Post #22)
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So the results of the experiment reveal that the proctors are vulnerable to external factors. They are willing to alter the experiment to their own benefit; also they will change the experiments if the results are not what they expected.
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Oct 21 2009, 02:24 PM (Post #23)
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Are you going to post the bids made? Or do they remain confidential?
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Oct 21 2009, 03:07 PM (Post #24)
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QUOTE (Heartless Krab @ Oct 21 2009, 06:23 AM)
So the results of the experiment reveal that the proctors are vulnerable to external factors. They are willing to alter the experiment to their own benefit; also they will change the experiments if the results are not what they expected.
*


Or people are allowed to bid in whatever currency they want, and I value them whatever way I want. Hence, for obvious reasons, a dollar is worth more than any amount of zeny.
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Oct 21 2009, 03:12 PM (Post #25)
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then, this fellow better get posting, because he needs to pony up alot of zeny to pay the second place bidder's bid....

This post has been edited by Key's Rat: Oct 21 2009, 03:14 PM
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Oct 21 2009, 04:07 PM (Post #26)
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What about my internets? I can offer 30 internets for your Google Wave Invite.. That means something, right? Right?
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Oct 21 2009, 10:20 PM (Post #27)
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QUOTE (Key's Rat @ Oct 21 2009, 10:12 AM)
then, this fellow better get posting, because he needs to pony up alot of zeny to pay the second place bidder's bid....
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I was gonna say...

But I'm sure Jinghao will cheat and take the highest bid.
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Oct 22 2009, 12:33 AM (Post #28)
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QUOTE (Jinghao @ Oct 20 2009, 09:48 PM)
Hey sorry guys, I totally didn't expect this. Someone offered to pay 36 dollars for my invite, so... unless you plan to up-bid that, it's sold.

No amount of zeny would trade for $36 stongue.gif Sorry
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Good for them. I'm out.
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Oct 23 2009, 04:02 AM (Post #29)
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I have a Google Wave account now. lol
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