The dollar auction is a non-zero-sum adversarial game. In this scenario, two participants participate in a bid for a one-dollar bill. The highest bidder will get that dollar, and the other one will pay the same price regardless of the bid.
Auction dollar
Right!
The dollar auction is a non-zero-sum adversarial game. In this scenario, two participants participate in a bid for a one-dollar bill. The highest bidder will get that dollar, and the other one will pay the same price regardless of the bid.
- Name
- Auction dollar
- Classification
- Non-zero-sum confrontation game
- Form
- cycle
- Frequency
- Often appear
Auction dollar
When one of them bids 1 cent, he will consider that if the other bids 2 cents, he will lose 1 cent freely; as long as the other bids more than he will lose. When the price rises to exactly $ 1, the first bidder will not make any profit. However, if another participant bids $ 1.01, he will lose $ 1, compared with only 2 cents if he bids $ 1.02 on his own. In this cycle, participants would theoretically buy a $ 1 note at a very high price. This kind of game often appears in real life.
