Dollar Auction - Round 4

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Adam H
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Dollar Auction - Round 4

Postby Adam H » Thu Mar 14, 2013 10:04 pm UTC

I am selling a dollar. If you would like to buy this dollar, post how much you'll pay me for it. When I call an end to the auction, I will give the dollar to the highest bidder, but I will keep EVERY bid (the highest one from each player), not just the winning bid.

Rules:
-You can only bid integers (of pennies).
-You can bid a maximum of 10 cents higher than the previous bid, and a minimum of 1 cent higher.

More info here.

The bidding starts at 5 cents! Anyone? Anyone at all?


Round 1 over! GeoffreyY wins with a bid of $2.18! Congratulations to GeoffreyY!

The rules for round 2 are the same as above, except the winner gets half of the profits from the round in addition to my dollar. Wow! What a deal!

Round 2 over! GeoffreyY wins significantly more this time!

The rules for round 3 are the same as above, except the winner gets 99.99% of the profits from the round in addition to my dollar. Also, no maximum or minimum bids. See post for detail.

Round 3 over! Rosewinsall wins! In exchange for my dollar, she has to pay just a tiny fraction of graham's number! What a bargain!

The rules for round 4 are the same as above, except the winner gets 99.99% of the profits from the round in addition to my dollar, and there IS a maximum bid. Phew! I enjoy getting graham number of dollars as much as the next guy, but at some point it just gets silly!
Last edited by Adam H on Thu Mar 28, 2013 9:51 pm UTC, edited 5 times in total.
-Adam

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Vytron
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Re: Dollar Auction

Postby Vytron » Thu Mar 14, 2013 10:22 pm UTC

So, you'll call the end of the auction at an arbitrary point in time?

*Gets pop corn.*
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thecamoninja
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Re: Dollar Auction

Postby thecamoninja » Thu Mar 14, 2013 11:02 pm UTC

six cents!
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dudiobugtron
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Re: Dollar Auction

Postby dudiobugtron » Thu Mar 14, 2013 11:23 pm UTC

According to the Wikipedia page you can up your bid, instead of having to make a new bid and pay both amounts. Is that how it works here?
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Vytron
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Re: Dollar Auction

Postby Vytron » Thu Mar 14, 2013 11:41 pm UTC

thecamoninja wrote:six cents!


No!!

And so it begins.

I guess the best strategy here is to bid together so that our total amount never goes over one dollar. So, by hitting 99 cents, we beat Adam H by one cent.

But that produces many losers too, so to have Adam as the single loser, we just ignore his game :P

So now, let's see if we can avoid going over 99...

11 cents!
Go! Go! You can do it username5243!
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Adam H
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Re: Dollar Auction

Postby Adam H » Fri Mar 15, 2013 2:05 am UTC

dudiobugtron wrote:According to the Wikipedia page you can up your bid, instead of having to make a new bid and pay both amounts. Is that how it works here?

Yeah, only your last bid counts.
-Adam

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Sean Quixote
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Re: Dollar Auction

Postby Sean Quixote » Fri Mar 15, 2013 6:16 am UTC

Twenty cents.

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Dr. Diaphanous
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Re: Dollar Auction

Postby Dr. Diaphanous » Fri Mar 15, 2013 9:00 am UTC

Thirty cents
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orangedragonfire
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Re: Dollar Auction

Postby orangedragonfire » Fri Mar 15, 2013 9:39 am UTC

I guess the strategy for the players would be to buy the dollar for 5 cents and then split the profit... yay, cooperation!

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Re: Dollar Auction

Postby cemper93 » Fri Mar 15, 2013 9:46 am UTC

40 cents.

EDIT: It is quite obvious to me that the last bid will be 99 cents.

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Re: Dollar Auction

Postby orangedragonfire » Fri Mar 15, 2013 10:33 am UTC

cemper93 wrote:EDIT: It is quite obvious to me that the last bid will be 99 cents.

Not necessarily. Say that you've made a bid for 98 cents. Then somebody else bids 99. If you don't make another bid, you loose 98 cents; if you bid, say 100 cents, you loose nothing.

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GeoffreyY
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Re: Dollar Auction

Postby GeoffreyY » Fri Mar 15, 2013 11:17 am UTC

orangedragonfire wrote:Say that you've made a bid for 98 cents. Then somebody else bids 99. If you don't make another bid, you loose 98 cents; if you bid, say 100 cents, you loose nothing.

Wow, didn't see that coming.
Good that I didn't join in.
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Re: Dollar Auction

Postby AvatarIII » Fri Mar 15, 2013 12:06 pm UTC

The total of all bids has already exceeded 100c so Adam H has already made a profit, of 7c if I am not mistaken

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GeoffreyY
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Re: Dollar Auction

Postby GeoffreyY » Fri Mar 15, 2013 12:12 pm UTC

AvatarIII wrote:Adam H has already made a profit of 7c

... as predicted. (?)

The thing that's NOT predicted is that nobody bid twice or more. Strange.
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Re: Dollar Auction

Postby Sean Quixote » Fri Mar 15, 2013 2:17 pm UTC

I'm a Get Rich or Die Tryin' in this motherfucker.

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Dr. Diaphanous
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Re: Dollar Auction

Postby Dr. Diaphanous » Fri Mar 15, 2013 7:58 pm UTC

A dollar? for 40 cents? I'd be a fool not to up my offer to 45 cents
"God works in mysterious and breathtakingly cruel ways."

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Reecer6
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Re: Dollar Auction

Postby Reecer6 » Fri Mar 15, 2013 8:08 pm UTC

I'll take that dollar for five tenths of a dollar! Or fifty hundredths, if you prefer. Or even half a dollar if you really like simplicity, jerk.

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Adam H
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Re: Dollar Auction

Postby Adam H » Fri Mar 15, 2013 8:19 pm UTC

Current bids:
thecamoninja - $0.06
Vytron - $0.11
Sean Quixote - $0.20
cemper93 - $0.40
Dr. Diaphanous - $0.45
Reecer6 - $0.50

There's still potentially a 49c profit to be made! Don't delay! Act fast! The auction will end soon!
-Adam

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orangedragonfire
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Re: Dollar Auction

Postby orangedragonfire » Fri Mar 15, 2013 8:37 pm UTC

There's a time limit for the auction???

/edit:

Total so far
$1.72


Adam H already makes $0.72 profit.

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Dr. Diaphanous
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Re: Dollar Auction

Postby Dr. Diaphanous » Fri Mar 15, 2013 8:42 pm UTC

So I either lose $0.45, or gain $0.40 by bidding 60 cents? A wise investment, methinks!

I bid 60 cents.
"God works in mysterious and breathtakingly cruel ways."

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Reecer6
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Re: Dollar Auction

Postby Reecer6 » Sat Mar 16, 2013 12:07 am UTC

No, I must have that dollar! 62 cents!

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GeoffreyY
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Re: Dollar Auction

Postby GeoffreyY » Sun Mar 17, 2013 6:02 am UTC

When will this auction end?
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Re: Dollar Auction

Postby thecamoninja » Sun Mar 17, 2013 1:48 pm UTC

When Adam H is getting above 90 cents from several people, probably.
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Adam H
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Re: Dollar Auction

Postby Adam H » Sun Mar 17, 2013 2:44 pm UTC

GeoffreyY wrote:When will this auction end?
Very soon! I promise! Possibly the next bid will be the last!
-Adam

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Rosewinsall
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Re: Dollar Auction

Postby Rosewinsall » Sun Mar 17, 2013 11:31 pm UTC

72 cents

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Re: Dollar Auction

Postby thecamoninja » Sun Mar 17, 2013 11:57 pm UTC

This is ridiculous! I'm ending this madness! Surely no one will bid higher than my 80 cents?
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Re: Dollar Auction

Postby dudiobugtron » Mon Mar 18, 2013 12:06 am UTC

Adam H wrote:
GeoffreyY wrote:When will this auction end?
Very soon! I promise! Possibly the next bid will be the last!

I love this thread so much. Even though I know exactly what's going on, and also that it's not even for real money, it still keeps tempting me and trying to suck me in. It's like a carnival game where I can see that it is rigged but I think I can beat it anyway.
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Dr. Diaphanous
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Re: Dollar Auction

Postby Dr. Diaphanous » Mon Mar 18, 2013 2:05 pm UTC

88 cents
"God works in mysterious and breathtakingly cruel ways."

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Rosewinsall
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Re: Dollar Auction

Postby Rosewinsall » Mon Mar 18, 2013 3:12 pm UTC

98 cents

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Adam H
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Re: Dollar Auction

Postby Adam H » Mon Mar 18, 2013 3:27 pm UTC

Current bids:
Vytron - $0.11
Sean Quixote - $0.20
cemper93 - $0.40
Reecer6 - $0.62
thecamoninja - $0.80
Dr. Diaphanous - $0.88
Rosewinsall - $0.98

If you haven't bid yet, it's not too late! You can bid 99c and make a profit! And for all you people who stand to lose money if the game ended right now: you can increase your bid to minimize your losses!

I'll wait for a few more bids to make sure everyone who wants to bid gets a chance.
-Adam

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Reecer6
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Re: Dollar Auction

Postby Reecer6 » Mon Mar 18, 2013 3:46 pm UTC

I'll bid a whole dollar for that dollar!

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Rosewinsall
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Re: Dollar Auction

Postby Rosewinsall » Mon Mar 18, 2013 5:43 pm UTC

$1.10

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Re: Dollar Auction

Postby maninblack » Mon Mar 18, 2013 7:51 pm UTC

I'm totally never bidding on this dollar, but yeah great thread, great game.
Spoiler:
Here's the thing, at any given point anyone who has bid, but is not the current high bidder stands to lose less by bidding an amount that is higher than the current bid, and more than their current bid by $0.99 or less, assuming (of course) that their new bid would be the winning bid. If that assumption is applied at any point in time, by someone who has already bid and is not the current high bidder they could convince themselves that it would be beneficial for them to bid again. It's one of the many cases of faulty gamblers' logic.


Regardless this is entertaining carrion carry on.
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If it's a philosophical one, I have no idea.

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Vytron
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Re: Dollar Auction

Postby Vytron » Mon Mar 18, 2013 10:54 pm UTC

Rosewinsall wrote:$1.10


:shock:

I didn't see this coming. Apparently losing 10 cents is worth seeing everyone else (but Adam H) lose more than that, including me who am losing 11!

Well played, I should have followed my first instinct and just watched from the side lines, but the game became irresistible for some reason.
Go! Go! You can do it username5243!
Cheers Marsh'n!

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Vytron
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Re: Dollar Auction

Postby Vytron » Mon Mar 18, 2013 10:59 pm UTC

EBWOP (I don't see no double posting in the rules :P ): And yes, I know I could cut Rosewinsall and bid 1.11, that, if I wasn't outbid, wouldn't lose me more than what I am losing, and would see Rosewinsall burn in a fire.

Problem is, if Sean Quixote decided to cut me with the same logic, the game goes on a never ending cycle to infinity!
Go! Go! You can do it username5243!
Cheers Marsh'n!

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THANKS KARHELL!! :)

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Moose Anus
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Re: Dollar Auction

Postby Moose Anus » Tue Mar 19, 2013 5:15 pm UTC

I want to get in on this.

$1.20
Lemonade? ...Aww, ok.

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Vytron
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Re: Dollar Auction

Postby Vytron » Tue Mar 19, 2013 10:45 pm UTC

Thanks Moose Anus! This means I take second place behind Adam H :)

(Or... I take third place behind Adam H (1st) and all the people that didn't bid at all (tied at 2nd)...)
Go! Go! You can do it username5243!
Cheers Marsh'n!

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THANKS KARHELL!! :)

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Re: Dollar Auction

Postby Rosewinsall » Fri Mar 22, 2013 9:54 pm UTC

$1.30

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Lorenz
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Re: Dollar Auction

Postby Lorenz » Sat Mar 23, 2013 9:04 am UTC

Well, I didn't join in when I could have made a profit. I am tempted to join in now just to mess with some people but I will wait till next auction.

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GeoffreyY
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Re: Dollar Auction

Postby GeoffreyY » Sat Mar 23, 2013 9:37 am UTC

Lorenz wrote:I am tempted to join in now just to mess with some people...

Same here! :lol:
George Carlin wrote:Think of how stupid a average person is, and realize half of them are stupider than that.


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