Re: Glum losers auction

2002-07-29 Thread sjostrom 

  In The Armchair Economist, Landsburg describes the Glum Losers auction.  
  The winner (the highest bidder) gets the product and everyone else pays the 
  amount of their bid.
  
  Has this auction ever been used?  If so, any details?
  
  Cyril Morong

Elections and sporting events are examples.  Everyone competes and pays, only the 
winner gets the prize.  Common property problems are also examples, for the same 
reason.

Bill Sjostrom

+++
William Sjostrom
Senior Lecturer
Department of Economics
National University of Ireland, Cork
Cork, Ireland

+353-21-490-2091
+353-21-427-3920 (fax)
[EMAIL PROTECTED]
www.ucc.ie/~sjostrom/

Glum losers auction

2002-07-26 Thread CyrilMorong 
In The Armchair Economist, Landsburg describes the "Glum Losers" auction. The winner (the highest bidder) gets the product and everyone else pays the amount of their bid.

Has this auction ever been used? If so, any details?

Cyril Morong