Auctions and the chances of Alpha and Beta, etc.
In 2010 we introduced our formulas for the chances of one item at auction attracting the “most interested bidder” (Alpha) …
Tag Archives: Beta
Auctioneers, Alpha and Beta and more …
In 2010, we modeled a formula for finding the odds of the most interested bidder (Alpha) and the second most …
Auctioneer looking for Alpha and Beta
Just how many bidders does an auctioneer need? How much in resource should be spent to get that one additional bidder? Is there a point of diminishing return?
