"dollar auction" meaning in All languages combined

See dollar auction on Wiktionary

Noun [English]

Forms: dollar auctions [plural]
Head templates: {{en-noun}} dollar auction (plural dollar auctions)
  1. (game theory) A non-zero-sum sequential game designed to illustrate a paradox brought about by traditional rational-choice theory in which players are compelled to make an ultimately irrational decision based entirely on a sequence of apparently rational choices made throughout the game. It involves an auction for a dollar bill where the second-highest bidder loses the amount that they bid, making them the biggest loser in the auction. Wikipedia link: dollar auction Categories (topical): Game theory

Inflected forms

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          "ref": "2012, Robert Dodge, Schelling's Game Theory: How to Make Decisions, page 117:",
          "text": "Among the most terrifying of all dollar auctions followed World War II, when the United States and the Soviet Union entered into an arms race to produce more sophisticated and destructive weapons.",
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Download raw JSONL data for dollar auction meaning in All languages combined (2.1kB)


This page is a part of the kaikki.org machine-readable All languages combined dictionary. This dictionary is based on structured data extracted on 2024-11-06 from the enwiktionary dump dated 2024-10-02 using wiktextract (fbeafe8 and 7f03c9b). The data shown on this site has been post-processed and various details (e.g., extra categories) removed, some information disambiguated, and additional data merged from other sources. See the raw data download page for the unprocessed wiktextract data.

If you use this data in academic research, please cite Tatu Ylonen: Wiktextract: Wiktionary as Machine-Readable Structured Data, Proceedings of the 13th Conference on Language Resources and Evaluation (LREC), pp. 1317-1325, Marseille, 20-25 June 2022. Linking to the relevant page(s) under https://kaikki.org would also be greatly appreciated.