tag:blogger.com,1999:blog-37316956.post7509398403691057779..comments2023-10-31T06:25:28.512-04:00Comments on Roto Think Tank: More Tout Wars (and a closer look at the Vickrey Method)Mike Gianellahttp://www.blogger.com/profile/04227146501538593197noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-37316956.post-56724794471835088632010-06-23T10:31:59.693-04:002010-06-23T10:31:59.693-04:00We changed the Vickrey rules in Tout this year bec...We changed the Vickrey rules in Tout this year because of my observation that rather limited number of bidders each week meant there were many uncontested bids, all of which were reduced to $1. <br /><br />This essentially gave teams that lost the fight for the few big players to become available an almost unlimited supply of money. Since we do allow $0 bidding, it seemed to make sense for teams to pay a floor price based on their bid (since these bids were determined more by team need than player value), and use Vickrey for the more in demand players.<br /><br />We'll have to evaluate whether the $10 floor is the right one, it seems to me now that $5 might have worked just as well, but I think it's definitely made me more thoughtful about my bids each week.Anonymoushttps://www.blogger.com/profile/08696596224714928080noreply@blogger.comtag:blogger.com,1999:blog-37316956.post-60214624385707757342010-06-23T10:18:46.506-04:002010-06-23T10:18:46.506-04:00The goal of the Vickrey auction is to induce bidde...The goal of the Vickrey auction is to induce bidders to make true bids. Vickrey's insight was that in a closed auction bidders often underbid the true value of the asset for fear of overbidding and looking foolish. By assuring the bidders that they'll pay just one unit more than someone else bid, they are freer to bid the actual value they give the object for sale. <br /><br />Which explains why your closed auction bidders spend less than the Tout Warriors. Also, do you allow $0 bids in Billy Almon? That has an effect, too.Anonymoushttps://www.blogger.com/profile/08696596224714928080noreply@blogger.com