We're More Familiar With What Economists Call An English Auction - Prices Start Low And Rise As People Bid. However, There Is Also The Dutch Auction, Where Prices Start High And Go Lower Until Somebody Bites. Movies Are Sold To The Audience Via A Very Slow Dutch Auction, Where Each Phase Between Price Drops Can Last Weeks Or Months.
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We're More Familiar With What Economists Call
Nathan Myhrvold
We're More Familiar With What Economists Call An English Auction - Prices Start Low And Rise As People Bid. However, There Is Also The Dutch Auction, Where Prices Start High And Go Lower Until Somebody Bites. Movies Are Sold To The Audience Via A Very Slow Dutch Auction, Where Each Phase Between Price Drops Can Last Weeks Or Months.
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