The second-price auction
The thing is worth 70 coins to you. What should you write on the slip - and does the answer depend on who is collecting it?
Four sealed slips go into a room, three of them from rivals whose numbers are fixed, and the tabs change only who pays what afterwards. The first slider is your own slip. Watch the surplus you take home, and the chart below that scores every other bid you could have made.
Board: Auctions and Mechanism Design →Two dials and four payment rules. Every number on the page is recomputed from the dials. The sweep shows every bid you could have made.
try this Open Pay what you bid, drag What you write on the slip across its range, and watch Every bid you could have made.
Included with a plan
This lab is included with a plan. The first three lessons of every track are free, with their boards and videos. A plan unlocks every lesson, board, video, lab and paper for one price.
see also Large AI Models Are Cultural and Social Technologies in Papers.