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Level 16
· ◆◆◆◆◆ · ~13 min
Revenue Equivalence
Revenue Equivalence
"Under a specific set of assumptions, every standard auction raises the same expected revenue. The result matters less than the list of assumptions, because that list is where real auction design happens."
the revenue equivalence theoremthe five assumptions it needswhy the format seems not to matterreserve pricesbidder count beats format
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.