tag:blogger.com,1999:blog-4159906646513306121.post8448800883798377839..comments2023-11-19T20:38:50.237-08:00Comments on Economic Logic: Complicated auctions are more proftableEconomic Logicianhttp://www.blogger.com/profile/10171296292101248614noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4159906646513306121.post-11965828839280701402012-12-18T04:27:55.546-08:002012-12-18T04:27:55.546-08:00Hi, here is the author of the above mentioned pape...Hi, here is the author of the above mentioned paper. Let me just point out that I obviously agree with Economic Logician's concerns about the "moral virtues" of price reveal auctions. These mechanisms (I also include lowest unique bid auctions and penny auctions) do not aim at allocating a good efficiently. They rather have been designed with the explicit goal of raising seller's profits, possibly also exploiting agents' enthusiasm, curiosity and naivete. In the paper I focus on a pure game-theoretic analysis of the mechanism and therefore I do not mention these issues because I find them quite obvious. Notice that the study of the theoretical properties of these games remain interesting as pay-per-bid mechanisms could be succesfully used in other (more ethical) contexts such as fundraising activities and charities, i.e., situations in which agents are more consciously and happily willing to "lose some money" but still may enjoy the fun of playing and the chance to win a prize.Andreanoreply@blogger.com