Re:Johann Wolfgang von Goethe, Amateur Auction Theorist
by mhuffman on Saturday June 04, 2016 @12:53AM
(#11834958)
If everyone is rational (ie., won't purposely screw themselves.) and does not change their maximum amount according to what other bidders do, then it kind of doesn't matter in the end.
[1] https://en.wikipedia.org/wiki/Revenue_equivalence