Penny
Hacking Online Auctions – UnCon && ITWeb talk
I gave an updated version of my ‘Hacking Online Auctions’ talk at UnCon in London last week. The talk gave a brief intro to general auction theory, and how the models can be applied online, but the main focus was on ‘penny auction’ websites. What are those all about then? Well, during my Masters last year I took a course on Internet Economics, and one of the modules involved auction theory. It was a really interesting module, and I did a bit of my own research on the side, whereby I stumbled across various penny auction sites. The sites (who pretend to be akin to eBay or the likes) go a little something like this:
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