An All-Pay Auction in Practice

Dr. David Zetland, professor of Environmental Economics and Policy 100 at UC Berkeley explains the all-pay auction.

Penny auctions are all-pay auctions and if you ever wondered why a bidder has spent more than the item’s value this will explain sunk cost.

Related posts:

1. Penny Auction Bidding: Bid to Bid or Bid to Win?
2. 4 Reasons Penny Auction Bidders Bid Like Crazy
3. Swoopo the Crack Cocaine of Penny Auctions
4. Do You Have Time to Bid on Penny Auctions?
5. Penny Auctions: The War of Attrition in Practice

Tagged as: all pay auction, bid fee, cent auction, dollar auction, game theory, online auction, Penny Auction, strategy, swoopo