think tank forum

i responded to an ad for a video game on craigslist today and got this response:

Yes the game is still available. [...] Shockingly, the same exact day you emailed me another man offered to buy it from me. I’m going to see what his offer is most likely going to go with the higher of the two. [...]

i got an immediate econ boner upon reading this, so i responded:

i got a chuckle out of the "selling it to the highest" bidder approach you're taking to dual offers. i'd also note that if you were aiming for efficiency, you'd sell it to the highest bidder at the price offered by the second highest (like ebay!). this really isn't in your best interest, though!

shit like this probably exemplifies one of the many reasons why people hate economists

similarly, this is one of the reasons i, as an economist, hate this guy: he's giving me an almost-perfect incentive to reveal my true willingness to pay. fuck him.

hahaha

> i'd also note that if you were aiming for efficiency, you'd sell it to the highest bidder at the price offered by the second highest (like ebay!).

i don't think that affects efficiency. it's a transfer.

> i don't think that affects efficiency. it's a transfer.

what are you talking about?

the price at which it is purchased doesn't matter--only who bought it.