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The Dollar Auction Game – Game Theory, Part I by Mathew Crawford

On Saturday, June 23, 1973, the World Court condemned French nuclear tests in the Pacific. In what might be termed “gain of radiation” research, the U.S. and France had used scattered islands in the Pacific as grounds for experimentation with nuclear weapons since the closure of World War II. From those tests, Western culture gained the bikini. The Bikini Atoll got the shaft. Laszlo Mero’s classic, Moral Calculations (pdf here), is not the pinnacle of mathematical complication in the world of John von Neumann’s game theory. But it is a masterpiece of illumination in the world of simple, if powerful applications of the tools of game theory. It lives perpetually near the top of my book recommendation list. In a game described by Martin Shubik a dollar bill is put up for sale. It is offered at auction with a minimum bid of one cent. Anybody who bids this much can take the dollar, provided, of course, that no one else offers more. The game proceeds according to the usual rules of auctions, but with one exception. The special rule is that the auctioneer must be paid not only by the highest bidder, but also by the second-higher bidder. The highest bidder pays what he bid and takes the dollar, while the second-highest bidder pays what he bid but gets nothing.
https://roundingtheearth.substack.com/p/the-dollar-auction-game

From Dr. Vernon Coleman
Earth Newspaper – A Major Source of Information
If you’re looking for a cache of information about covid-19 I suggest you take a look at EarthNewspaper.com which contains over 2,250 [now over 3,000] articles about covid-19 – it is said to be the largest archive of covid-19 articles and videos online and I believe it. We are fighting a war and EarthNewspaper.com is a valuable asset in the war – an asset too often under-estimated. The site’s tagline is `All the Honest News Fit to Publish’. If you’re looking for a way to help the Resistance Movement I suggest you subscribe and make a donation to EarthNewspaper.com
https://earthnewspaper.com/donate

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