Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

 



Forgot your password?
typodupeerror
DEAL: For $25 - Add A Second Phone Number To Your Smartphone for life! Use promo code SLASHDOT25. Also, Slashdot's Facebook page has a chat bot now. Message it for stories and more. Check out the new SourceForge HTML5 Internet speed test! ×

Comment more interesting economically than you might think (Score 1) 475

Actually, the problem of devising this sort of a market (buyers appear at various times and don't want to wait, supply is unlimited) is pretty interesting and not impossible. The field of online mechanism design (where online means participants show up at various times) is quite popular these days, although I can't say I know too much about it...
However, it took about twenty seconds to see that there's already a paper that discusses a market virtually identical to this one (in theoretical terms). See: Incentive-Compatible Online Auctions for Digital Goods (2002), Ziv Bar-Yossef, Kirsten Hildrum, Felix Wu .

Their analysis: We first show that no deterministic online auction is competitive relative to the optimal fixed price revenue.
Hmm... doesn't sound like Apple needs to run out and implement an online auction market for itunes quite yet...

Slashdot Top Deals

The amount of time between slipping on the peel and landing on the pavement is precisely 1 bananosecond.

Working...