• Posts
  • RSS
  • ◂◂RSS
  • Contact

  • All-Pay Auction for Charity

    June 12th, 2013
    ea
    While in a standard auction you have to pay your bid only if you win, in an all-pay auction you pay whether or not you win. The standard example is a dollar auction where you're selling a dollar. Bidding a penny to get a dollar seems reasonable, but someone else then might bid two cents. The bidding can keep going even past a dollar, and the more people fighting for the dollar the more the person selling it makes. Bidding-fee auctions are similar, where each bid you make costs money. You might remember Swoopo? They used to put up ads like "An iPad just sold for $21.32!" not mentioning that the participants overall had spent more than the retail cost of the iPad on bidding fees. Eventually people caught on and they went bankrupt.

    In a less scammy vein, however, this is also how competitive prizes work. In the X-Prize teams spent over $100M in competition for a $10M prize. I can't find an estimate for how much people spent to win the $1M Netflix Prize but when you look at the number of people and number of teams it was probably well above $1M.

    Could we use this for charity? Imagine a donor thought two charities were both excellent and had very similar returns, but they knew lots of other people strongly disagreed and preferred one or the other. By offering to donate $X to the charity that received the most in donations, could they move more than $X to the charity of their choice? It might be even better to make the criterion be the most independent donations of at least $Y, because getting more people to donate has value in terms of expected future donations.

    (I suggested something similar a few months ago in a comment on my post on donation matching, but hadn't thought about prizes at the time.)

    Comment via: google plus, facebook, lesswrong

    Recent posts on blogs I like:

    How did we decide to have a kid?

    ...and then some more kids? The post How did we decide to have a kid? appeared first on Otherwise.

    via Otherwise January 28, 2023

    My Rainbow Kit

    For Christmas I got a really fun kit about rainbows. It had a rainbow catcher, a really cool necklace, a streamer thingy, and it also had a really really cool pinwheel, and it also had a bracelet and a pinata. Unfortunately the pinata didn't work out …

    via Anna Wise's Blog Posts January 5, 2023

    Phones

    I think that once a kid is in third grade they should be able to get a phone. I think that while sometimes parents might want kids not to have them at certain ages, phones can be quite useful at times. Tablets don't have GPS, they don't have WiFi…

    via Lily Wise's Blog Posts January 5, 2023

    more     (via openring)


  • Posts
  • RSS
  • ◂◂RSS
  • Contact