Category Archives: Auctions

Why land prices fell 97% in two years

Chesapeake Energy Corp and its Canadian rival Encana are being investigated following claims that they colluded to avoid bidding against each other for land in Michigan. In May 2010 Michigan State made $178 million from an auction of oil and … Continue reading

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The winner’s curse

Iraq has been auctioning off rights to some of its oil and gas blocks in the last couple of days. Often these big auctions lead to a situation called ‘the winner’s curse’. The winner’s curse is when the winner of … Continue reading

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Game theory and eBay bidding strategy

What is the best strategy to use when bidding on eBay? I will assume that there are three strategies to choose from: 1 – Bid the maximum price you are willing to pay at the start of the auction and … Continue reading

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