A huge thank you to Acorns for making this video possible. Go check them out, it helps the channel and hopefully makes saving and investing that little bit easier! Sign-up for Acorns now and they'll deposit $5 into your investment account to help you get started with investing! 👉 www.acorns.com/ee?s2=NOB1
@AndrewMellor-darkphoton
4 жыл бұрын
hi
@villeguilliet6845
4 жыл бұрын
@@AndrewMellor-darkphoton yubvk
@zombiekilldemon
4 жыл бұрын
Please do an Economics Explained video on the comic book market. The stuff you go over here with auctions is a small part of the craziness that is the comic market. There is so much to go over from how the industry is still supported by mom and pop shops. The fact that there is most duopoly between DC and Marvel, the fact the market crashed from a speculation bubble in the 90s, or even how there was and still kinda is a monopsony with the Diamond company over distribution of the comics to the mom and pop shops. DC is trying to break that monopsony now but isn't having an easy time doing it.
@davidjohansson1416
4 жыл бұрын
Sveriges riksbank = swedish central bank
@olanrewajuadeniji8974
4 жыл бұрын
Hi EE once again, please do an Economy of Nigeria episode... change is on the horizon, I'd love to have an idea what i can do to be of help
@EconomicsExplained
4 жыл бұрын
A super fun little fact about this year's prize that didn't make it into the video is that the two winners live right next door to one another. Wilson actually ran over to knock on Milgrom's door to tell him the good news.
@AndrewMellor-darkphoton
4 жыл бұрын
hi
@lesterpioquinto9266
4 жыл бұрын
I saw their story on fb!!!!
@truthwatcher1808
4 жыл бұрын
I'm confused. if this was first used in 1995. why is the nobel prize just given out now?
@chilenozo
4 жыл бұрын
@@truthwatcher1808 takes time to win a Nobel prize. Each year there are lots of candidates in a wide variety of topics, all falling under the umbrella of Economics. Also one solid test (like the US FCC 1995 auction) is not enough, usually there are several “proofs” (or auctions) needed. The Nobel committee has its own (slow) pace.
@chilenozo
4 жыл бұрын
The other fun fact (impressive tbh) is that Robert B Wilson now has 3 former PhD students as Nobel laureates (one been his co-laureate)! Talk about been a genius who can also recognize and attract talent!
@fahmimansor
4 жыл бұрын
EE should discuss every Economy Nobel Prize and their work. Wow. I have never come up with an idea as good as this since forever.
@dishantkumbhar8822
4 жыл бұрын
That's the reason for their nobel prize
@ysiabmworkinggroup3049
4 жыл бұрын
Great idea!! Just saw one on the related one from 1996. Can recommend it: kzitem.info/news/bejne/xo5mqah5ipyEf3o
@IT-sq5rj
4 жыл бұрын
This guy is probably pension age now.
@user-gu1hl2kx2k
4 жыл бұрын
Trump won one
@ns7023
4 жыл бұрын
Yup yup yup yup
@You_do_not_exist_Jack
4 жыл бұрын
I know nothing about auction theory, but for some reason, when he started talking about an ‘English style system’, I just knew the alternative system had to be Dutch.
@wesch6354
4 жыл бұрын
Thats because only the Dutch would look at something and say "how could we possibly do it backwards?"
@Inforza
4 жыл бұрын
the dutch actually use the english system for cars, art and other luxury items.. the dutch system is used for buying bulks of flowers and vegetables, it just goes faster that way
@IronPickAx
4 жыл бұрын
You must be a chess player
@agrajmishra6128
3 жыл бұрын
Why not French?
@emerald39
3 жыл бұрын
@@agrajmishra6128 Correct answer
@LocusJay
4 жыл бұрын
Can this be a series? Like, go through the Nobel prizes throughout the years? Or at least the fun ones?
@darkelwin02
3 жыл бұрын
Spoiler, a lot of them are all from the exact same school of economics.
@jhonklan3794
Жыл бұрын
yes pleaseeee
@typicalgamer5560
8 ай бұрын
@@darkelwin02which one ?
@arw000
4 жыл бұрын
"Bid on that new RTX 3080 before crying yourself to sleep" too real... I need nap now...
@insane_troll
4 жыл бұрын
Or alternatively you could just wait a few months.
@shramo
4 жыл бұрын
@@insane_troll Not sleeping for a few months is pretty dangerous...
@steak5599
4 жыл бұрын
@@insane_troll So we have to cry every night before we go to sleep for the next few month? Meh... if you don't have anything nice to say...
@EconomicsExplained
4 жыл бұрын
:(
@zhuljens
4 жыл бұрын
Was it in the video?
@michelmiyat
4 жыл бұрын
The chemestry footage cracked me up 0:16 😂
@jonathanozik5442
4 жыл бұрын
lol
@0xjrr
4 жыл бұрын
yep, looking for this one, to the top you should go
@WhyWorldSucks
4 жыл бұрын
I came to the comment section to find this comment. :p
@entropicpedro
4 жыл бұрын
Only reason I came to the comment section
@mungjr
4 жыл бұрын
cracked...I see what you did there
@sacha8416
4 жыл бұрын
Every year I’m very curious about who and what is the Nobel prize winner in every field. I read the work rewarded, looks complicated, dig deeper in the subject, still complicated but I feel I could understand if someone explains to me the context. That’s what you did in the video, thanks you. Great work as always.
@jcris8238
4 жыл бұрын
yeah . i don't know what else to type.
@ddobefaest9334
4 жыл бұрын
Dig a little deeper into the 'Nobel' prize for economics specifically. It's interesting. Apparently, the actual Nobel family did not recognise or credit the award as a true Nobel prize. The story goes that at the time of the prize's conception, the central bank of Sweden wanted to be free from oversight from the democratic government of Sweden. So, the bank sought an institution to give them academic and social legitimacy, hence justifying their independence. Since then, it's been argues that the prize serves to legitimise the fallible theories of limited branches of economic thought to an otherwise unknowing public.
@ysiabmworkinggroup3049
4 жыл бұрын
I think this series will do exactly that: kzitem.info/news/bejne/xo5mqah5ipyEf3o
@BenjaminFife
3 жыл бұрын
"Economics is a study of how people interact with things of value" - I really like how you said that.
@jon7911
3 жыл бұрын
It’s funny, every econ professor I’ve had has described it a different way. My personal favorite is “economics is the study of how humanity minimizes the effects of scarcity”.
@zombiekilldemon
4 жыл бұрын
Please do an Economics Explained video on the comic book market. The stuff you go over here is part of the craziness that is the comic market. There is so much to go over from how the industry is still supported by mom and pop shops. The fact that there is most duopoly between DC and Marvel, the fact the market crashed from a speculation bubble in the 90s, or even how there was and still kinda is monopsony with the Diamond company over distribution of the comics to the mom and pop shops. DC is trying to break that monopsony now but isn't having an easy time doing it.
@zombiekilldemon
3 жыл бұрын
@WorldFlex the fact that you consider comics as nothing but an irrelevant market shows your igneous. EE has gone over even Beanie Baby's collecting so no the comic book market is not irrelevant to the context done on this channel. No go off and continue to think everything on KZitem is just propaganda with your tin foil hat.
@shramo
4 жыл бұрын
12:50 "In most nations this is still illegal" Whispers "But..." That made me laugh, I thought a property developer was trying to collude with me over my shoulder.
@EconomicsExplained
4 жыл бұрын
Get in looser, we are fixing prices!
@Quickonomics
4 жыл бұрын
Well, the price is probably not the only thing that starts really _high_ at a Dutch auction...
@EuropeanQoheleth
4 жыл бұрын
Heh heh
@shakenbake9250
4 жыл бұрын
I see what you did there...
@acey457
4 жыл бұрын
like snoop dogg rolling a cannabis weed blunt joint
@martiddy
4 жыл бұрын
The dutchies already knew that if they hold the bids in Amsterdam, all the bidders would be a bunch of stoners with a lot of money.
@arpitdas4263
3 жыл бұрын
Surprised this comment hasn't been flooded already
@nicholaswoollhead6830
4 жыл бұрын
As a student of international politics and economics I couldn't be more thankful for the amazing videos you put out.
@Charlie-et4td
4 жыл бұрын
Heard the intro and heard ocshuns, and I was so confused until about 10 seconds in lol.
@voxhominem
4 жыл бұрын
I thought he was saying option until it came up on the screen
@yukionna1649
4 жыл бұрын
Why do I feel like I'm about to find out the American alternative pronunciation is something horrific like "our-k-tea-ohn"?
@RockWontDie14
4 жыл бұрын
What other pronunciations are there?
@macaroon_nuggets8008
4 жыл бұрын
@@yukionna1649 I am American and I prnouce it Auck-shun.
@voxhominem
4 жыл бұрын
@@RockWontDie14 people in the north east US say something like 'action' and people in the southeast say it with emphasize on the 'au' part like aüction
@AusieGamer834
4 жыл бұрын
I am supermarket worker. So I am not the smartest person but your videos makes so much sense and they are like music to my ears.
@dharmani_youtube
4 жыл бұрын
The ad transitions are just so well timed! It makes my marketing heart melt ❤️
@runrafarunthebestintheworld
4 жыл бұрын
It looks great and it's comforting since people might be still working on the weekends. 😅
@ddobefaest9334
4 жыл бұрын
It's almost as if this video was made in a supporting way around this advert! : O
@dannygray4618
4 жыл бұрын
“Okshuns” is triggering me so hard. TIL how auctions is said in Australia.
@sjwbond2
4 жыл бұрын
I got it too, but this is not how even the majority of Australians pronounce it, I work in energy trading, so we use the term a lot in daily business, but I have never heard an Australian colleague pronounce it this way. at least it doesnt sound as obtuse as saying "Nitch" for Niche :D
@oppionatedindividual8256
4 жыл бұрын
@@sjwbond2 he means the word Australia I think lol
@lancejohnson8388
4 жыл бұрын
@@sjwbond2 weird, as I don't think I have heard an Australian say auction in any other way.
@sjwbond2
4 жыл бұрын
@@lancejohnson8388 Vic/NSW thing? My colleagues are all from there...
@goyindi
4 жыл бұрын
I am Australian and yes i also say "okshun"
@Bethlehem0BC
4 жыл бұрын
Thanks for the video - Economics undergrad here! Please do Nobel coverage every year in Layman's terms! Very helpful and much appreciated!
@Dukenukem
4 жыл бұрын
"People are behaving illigically" is the most logical thing you can come up after observing "The people" for a while
@otsok
4 жыл бұрын
Fun fact: Robert Wilson has supervised the dissertations of three other Nobel price winners: Alvin Roth, Bengt Holmstrom and Paul Milgrom.
@philippbeckonert1678
4 жыл бұрын
: Fun Fact: There is no Nobel Prize in Economics. The Prize refered to in the video(but of course not in the titel) is a sad/cheap substitute which economists gave themselves.
@Unfamiliar_Fruit
4 жыл бұрын
There’s also no prize in mathematics. It’s been rumored (falsely) that Nobel’s wife ran off with a mathematician
@Croz89
4 жыл бұрын
I'd be interested to see how well this works for reverse auctions, since those are very common in the engineering and service sector (bidding to build a bridge or administer a hospital for example). Intuitively it seems like it would work just as well, but perhaps there's something that might be different.
@ML-gg5ij
4 жыл бұрын
Alfred Nobel did not want a Nobel prize in economics and he had his reasons. It remains an insult to him that the Swedish central bank just names the prize after him. Not to honour him of course, he didn't want it, but to get the esteem and reputation that the other, in Alfred Nobels mind most important, sciences get. It's disgraceful. Call it something else. Mathematicians have their Fields medal. Establish an Adam Smith prize or Friedrich Hayek, if you like. But leave out Nobel's name.
@hardlyb
4 жыл бұрын
I agree completely. The economics prize isn't as prestigious as the one in physics - I'd say most of the cachet comes from appropriating the name.
@xXWorldgamefunXx
4 жыл бұрын
The Nobel Prize in Economics has many controversies around it. It has an obvious political bias, prefering mainstream economists like Milton Friedman and Friedrich Hayek, while leaving keynesian economists like Joan Robinson without an award. Economics Nobel Prize winner Gunnar Myrdal said that the prize is reactionary and should be abolished. Even Hayek said it gives economists an authority in their field that no man should have.
@notkimjongun3752
4 жыл бұрын
also you get frauds like Krugman, who is wrong with most of what he says but rides on the prices fame for the last decades
@raidzharif
3 жыл бұрын
i just love how EE showed that Walter White van for Chemistry. Heisenburg surely be proud "You're god damned right"
@EvilChris2010
4 жыл бұрын
If I see the Seamless ad on EE videos one more time... Speaking of which, someone should raise the topic of Ad Tech and it’s impact on the economy.
@NoName-zv7ju
4 жыл бұрын
It would be great if you did this every year for the winner in economics , as you break it down very well
@ysiabmworkinggroup3049
4 жыл бұрын
Here is one on the 1996 one that also went to auction theory. kzitem.info/news/bejne/xo5mqah5ipyEf3o There is some overlap. But, it's a start :)
@klausnielsen7102
4 жыл бұрын
Yes you are struggling with , Skåne...
@Croz89
4 жыл бұрын
Sk-or-neh?
@axelnils
4 жыл бұрын
@@Croz89 or go with the English name, Scania.
@adamanderson1979
4 жыл бұрын
You mentioned the graphics card in this episode, hopefully that tech company is listening as the “new” auction would have actually done a lot of work for them
@hostilemonkey
4 жыл бұрын
I feel that the blade of the windmill at 6:38 tracks the point of intersection on a curve showing ‘price’ and ‘reluctance to bid’. I also feel that wasn’t by accident.
@beastlybongos9678
4 жыл бұрын
Idk why everyone's hating on the way you say auction it sounds fine to me
@rreinehr1
4 жыл бұрын
Don’t hear it either... 🤷♂️
@kingdomovies
4 жыл бұрын
Some people don’t realise that people have different accents lol
@JGeMcL
4 жыл бұрын
I see everyone complaining but no one is offering their version of the “correct” pronunciation. I’m American and I pronounce it the same way.
@Think_Inc
4 жыл бұрын
Yeah.
@deltabeta5527
4 жыл бұрын
I just don't care how it is pronounced. It's understandable and that's all matters.
@PoPax186
3 жыл бұрын
This is a great video. I also hoped you would add the negatives of the simultaneous auctions as well. Read about how it totally failed in India and caused many more problems than it solved. I can see the effects first hand
@morriskaller3549
4 жыл бұрын
That butchering of "Sveriges riksbank" hit me differently
@KFanVid
4 жыл бұрын
...och Skåne.
@fdumbass
4 жыл бұрын
Seeing a Swedish person online hits differently 😞
@fdumbass
4 жыл бұрын
Kansje det hadde vært bedre å bare oversette til engelsk
@EmmaWithoutOrgans
4 жыл бұрын
@@fdumbass inte en dansk 😭
@fdumbass
4 жыл бұрын
@@EmmaWithoutOrgans Jeg er norsk 😢
@CosmiaNebula
4 жыл бұрын
do economics of past Nobel prizes... I recommend: 2002 (behavioral economics), 2018 (climate economics), 1993 (cliometrics), 1991 (Coase), 1998 (welfare economics), 1997 (Black-Scholes-Merton model) or economics of Patreon
@axelnils
4 жыл бұрын
They aren’t Nobel prizes though
@enderw.1724
4 жыл бұрын
I’m confused with everyone’s confusion. How do you say auctions? I’m not some Aussie here I’m from the mid west I understand him just fine 🤷♂️..... maybe I am an Aussie 🤔
@azazzelx
4 жыл бұрын
that new auction format...its kinda elegant if you look more into it...
@blahokay1
3 жыл бұрын
One of my favorite classes I took covered a lot of auction theory and I thought it was super interesting. Auctions are such a complex but elegant solution to match buyers and sellers. It's also so interesting learning about how auctions shape the world at the scale of government contracts or fixed allocations.
@robertewalt7789
3 жыл бұрын
Stock exchanges, commodities exchanges, etc. also are auctions. Potential buyers and sellers are bidding.
@savyblizzard6481
4 жыл бұрын
This is exactly the video I was wanting. Thank you so much!
@Dargubus93
4 жыл бұрын
I hear oligopsony. Just remebered that EE thought us about monopsony a view videos earlier, so we all directly understand.
@LIFEwithBAVAN
4 жыл бұрын
Amazing work as always! Can you do a video on The Fair Tax Law? Explaining what fair tax will do by replacing income tax for the country (pros and cons perhaps)?
@sqalcher
4 жыл бұрын
Stock video at 18:23 is simply hilarious
@todornedyalkov5510
4 жыл бұрын
Maybe not the most exciting of topics, but very ,very important ,I needed that.
@ispty
4 жыл бұрын
This channel is awesome. Congrats. I think most people will learn more here than going to school and college together
@ddobefaest9334
4 жыл бұрын
Always look further independently though. A KZitem video that gives the full story with both sides of the coin and enough context and details AND be entertaining is pretty rare.
@juane.bourdette1008
4 жыл бұрын
Chemistry nobel price reference at the begining...well played, got my upvote righ there
@deepgopani5779
3 жыл бұрын
Great video, but I would really suggest improving your visuals to complement your audio. A lot of the visuals are obviously stock footage and contribute little to your explanation or argument. The video content would not really change if you replaced all your visuals with a black screen-the content is purely auditory. If you could have visual explanations of what you're talking about, it would be a lot easier to follow and I think fewer people would get lost halfway through the video.
@fatihaltn6250
4 жыл бұрын
Is Acorn available in Europe ? I can only see that its available only for US residents
@barryflynn3025
4 жыл бұрын
In Ireland college places are given out in a massive auction. You get grades in your leaving cert which add up to points (H1 = 100, H2 = 88, H3 = 77 etc, max points = 625) and you basically bid on courses and the points go up and down each year for different courses. Depending on demand there can be up to 5 rounds of bidding on college places. There is no interview, no application essay, just a straight up auction.
@ForestFWhite
4 жыл бұрын
All the resources for sale at once is not a real possability without a seller with a monopoly on all the resources. It's basically applicable to non-capitalist ventures, because a capitalist venture would do better fixing prices than introducing fairness or competition where there is none. You mentioned this in the first minute of the video! Study of value indeed.
@haroldsebastian7391
4 жыл бұрын
Hi man, i love your videos, but i'm not a native english speaker myself, and i don't know if that's the case for many other people that see your videos, so i just was wondering if you were planning to put subtitles on your videos, it would be great to have english sub cause i have a decent knoledge of english but i'm still perfecting my listening habilities, so not everytime i'm able to understand everything and it could the case for many others, i dont know. It would be great if you consider it and keep up the good work man 😁✌
@stephensheppard
4 жыл бұрын
Interesting overview of the work behind this year's Nobel prize. I'd like to recommend it to my class, but the misspelled "competative" at 11:26 (should be competitive) is kind of a deal-breaker. Any way it could be fixed?
@samuraijosh1595
3 жыл бұрын
It doesn't matter. Or, you can do some minor basic editing yourself.
@harshaldesai5393
3 жыл бұрын
EE should also be given a Nobel prize for making economics understandable to a layman.
@ERROR204.
4 жыл бұрын
Great video but honestly this many ads is starting to make it cancel out
@adamdewaal340
4 жыл бұрын
Awesome video! I think a really interesting video would be on banks and financial instruments moving away from LIBOR as the reference rate, the scandals' involved and the effect it will have on the economy would be incredible. interesting.
@nefwaenre
3 жыл бұрын
Thank you for explaining this!! i watched a lecture explaining this, but still was unable to understand. Now, while i still don't understand it all, but this helps a lot! Auctioning is one of the most important and in my case, my primary way of selling things (stamps & postages). So i was interested in this.
@sk-noraslaytore9435
2 жыл бұрын
Dammit your economic videos are too good. You earned my subscription! Not to merit but still!
@KnowArt
4 жыл бұрын
In a videogame I've seen a teeerrrrible auction that's still very intriguing. You pay your bid. You don't get it back. This means that it won't sell for a price that's anywhere near it's value, so the buyer gets a bargain. However the seller gets a heap-load of money from all bidders combined that didn't make it. In this game it worked fine, although it was quite frustrating as a buyer to lose, but I wonder how this would be in real
@elegantbiscuityt
4 жыл бұрын
That's a lottery.
@fagelhd
4 жыл бұрын
It s also called poker
@wigglebot2368
4 жыл бұрын
Not really an auction
@cmep
2 жыл бұрын
This is awesome. Good on these guys!
@unknownyoutuber2007
3 жыл бұрын
The video length of 22:22 is aestheticly pleasing to me for some reason.
@feat.cicero4638
3 жыл бұрын
Great video! Just remember 11:26 It is *competitive* , not compet-a-tive
@falxie_
3 жыл бұрын
That's a surprisingly simple and obvious auction system in retrospect
@flipletape9706
3 жыл бұрын
You mentioned Mcaffee, yes, that Mcaffee. You should do a video on him! It's the most fascinating story about money I've ever heard. His whole story is just way stranger than fiction. And there's so much that he did that you can learn about on what you should, and especially should not do with money.
@040040919
2 жыл бұрын
What is the difference between a continous multi-round auction and a continous market? By continous market, I mean a limit order book where you can buy, sell, buy-back, and sell-back assets.
@AmauryCooper
Жыл бұрын
Could the methodology used in auctions pioneered by 2020 Nobel laureates be used in political elections? Or is it similar to rank choice voting?
@nurainiarsad7395
3 жыл бұрын
I think my business team bid our biggest contract under this format. Didn’t realise it was cutting edge.
@mildredoxford1260
3 жыл бұрын
I am studying auctions in my undergrad economics course. This video was a great revision!
@KoreyThatcher
4 жыл бұрын
I’m becoming your patron sir!!! You make economics fun. Thanks a bunch!
@bernardokrolo2275
3 жыл бұрын
This is realy good channel..i never guess that some Aussi can be smart
@W00ge
Жыл бұрын
actual explanation starts at 17:20
@TomekSw
4 жыл бұрын
*acorns is not available in 97% of the world. How are you using it from Australia?
@gabbyn978
3 жыл бұрын
The dutch auction is not meant for laypersons, it is used as a means to distribute a certain reservoir of goods to merchants who know the market, and its prices, very well. They use it especially for selling the daily lot of flowers that had been delivered to Rotterdam, to wholesalers.
@yx6434
4 жыл бұрын
Just a newbie question - if the SMRs have been around for so long, why are they only getting recognised this year for the prize?
@flosam9870
4 жыл бұрын
If the auction model was used in 1994 by the FCC, why did it win the Nobel prize in 2020? Also how does this system accounts for government preferences such as local companies or companies with little ecological impact?
@leventedex
3 жыл бұрын
I haven't read all the comments, but I didn't find anyone asking this: How do you translate/apply this to the housing problem discussed in the start of the video??? The neighbor property is not for sale at the same time as the other/all "frequency band".
@darrishawks6033
3 жыл бұрын
There is no Nobel prize in economics. This prize is not granted by the Nobel trust. It is granted by the bank that administrates the trust.
@GaliaMinecraft
4 жыл бұрын
You could probably make this a series. Learing what nobel ecomomists contriubuted would be quite interesting.
@mr_legendaryguy9870
4 жыл бұрын
I'm confused. If the US did it in 1995, what makes it an award winning solution now?
@VilleKivinen
4 жыл бұрын
Theory behind it.
@kairon156
4 жыл бұрын
I was wondering this too, But this sort of thing happens from time to time. Someone gets 15 minutes of fame for making an old idea popular again.
@fwingebritson
4 жыл бұрын
@@kairon156 And he overlooked the fact that the FCC selling bandwidth in 1994 pissed a lot of people off and unleashed the fearmongers. Now the FCC is looking to do the same in a less conspicuous way. It's still making people grumble.
@jej_x
4 жыл бұрын
There is a backlog of things for the nobel prizes.
@ddobefaest9334
4 жыл бұрын
@@fwingebritson You've got to link the details to this. I remember this story but I can't remember the source. The auction in the U.S was supposed to be more efficiently and fairly allocated, so they hired some game theorists to design the auction but the theorists sided with the economic interests of the people who hired them or something, ended up designing the auction to just generate as much revenue for the government as they could. I can't remember it all correctly. Need to find the story again.
@AD-gs3dl
4 жыл бұрын
Does ebay uses the english auction format or the nobel price winning one?
@taylormartinez3394
4 жыл бұрын
Economists Explained needs a Nobel Price
@FingeringThings
4 жыл бұрын
Give it to EE, he deserves it
@tawandamachona4481
4 жыл бұрын
Learning Economics that actually works, kudos!!!
@gumerzambrano
4 жыл бұрын
Love your vids man!
@EconomicsExplained
4 жыл бұрын
👊
@pabloninoperez7145
4 жыл бұрын
@@EconomicsExplained ni vid ;). Question: if that new type of auction was invented before 1996 why are they reciveing the price now?
@davidcooks2379
4 жыл бұрын
Is there a good auction for CO2 emissions market?
@codingwithzak09
4 жыл бұрын
EE doesn’t know how to pronounce *Auctions*
@alunslatter400
4 жыл бұрын
What else do you expect from an Oc-stralilan??
@neomashego
4 жыл бұрын
*Octions*
@lachiechapman
4 жыл бұрын
How do you pronounce it @ZaksApps?
@kingdomovies
4 жыл бұрын
He’s aussie mate
@jej_x
4 жыл бұрын
have you heard of the word 'accent'?
@issaeliyo
3 жыл бұрын
I don't see how this way will make "the best company" ( the one who will keep employement, pay tax....) win the auction and not only the one who want to pay yhe highest amount of money because as you described it (money is not the most important for the the government)? Can you clarify it if it is tackled in the paper or in the practice?
@DeadDancers
4 жыл бұрын
I’m trying to find if this style of auction has been picked up for individual property sales. It seems like just a government thing so far, in Australia,
@ysiabmworkinggroup3049
4 жыл бұрын
Mostly first price auctions are popular for property. Just saw this in a related video: kzitem.info/news/bejne/xo5mqah5ipyEf3o
@namitpandey1857
4 жыл бұрын
The wit of this channel is seriously under rated 😂
@runrafarunthebestintheworld
4 жыл бұрын
Yeah herd mentality. 😅😅
@dan_rad
4 жыл бұрын
11:26 *competitive... Sorry for being that guy. Great video.
@iamtheV0RTEX
4 жыл бұрын
I feel like this video is seller-biased. Throughout the video, EE conflates "the best price" with "the highest possible price that results in a sale" which is true only for the seller. To a buyer, the best possible price is the lowest possible price that results in them acquiring the item. In an auction, there is a price range between the 2nd highest bidders' maximum bid and the 1st highest bidders' maximum bid that is a viable sale price (any lower and there are multiple buyers; any higher and there are no buyers). Whether the price is set at the bottom end of that range or the high end of that range determines who benefits more, the buyer or the seller, but saying that only the seller's interests matter is flawed.
@14vimalk
4 жыл бұрын
The seller sets the auction format. So I suppose "best price" isn't too wrong a usage in the context.
@Rolloke98
3 жыл бұрын
The solution provided by the nobel laureates is suited really well to avoid collusion and overbidding, but it seems to me that it still cannot tackle the other issue you mentioned, namely that the seller might want the buyer to meet other criterea than only buying for a high price, e. g. to meet emvironment standards and to employ local workers. Did I miss out on something or would you agree, that the provided solution cannot account for this issue?
@fruty3003
4 жыл бұрын
Your videos are really good because when you explain something I feel really stupid for not thinking of it on my own, but then I realize I do not have ANY background knowledge needed to even fanthom that something like that could exist. Well done! Question: Do you think the new auction format the two Nobel Prize winners you mentioned created could be applied to the simple example of real estate developer vs home-shopping family bidding for a house? The developer wants two properties compared to the family wanting one. Would it then become a bidding war between only developers and not families wanting to buy a single property? Would the two parties selling their properties even want to be "bundled up" into a single offer? Did I miss something or am I just overthinking?
@chilenozo
4 жыл бұрын
The Nobel award winning examples applies to complex auctions. No need to complicate simpler types of auctions. Now if there was an auction, say, for government buildings (where price may not be the only requirement bu the seller) across the land, simultaneously, then I can see this “new” method been applied.
@fruty3003
4 жыл бұрын
@@chilenozo Ah so I misunderstood the video, thanks!
@ddobefaest9334
4 жыл бұрын
Oi! Stop calling it a 'Nobel' prize.
@sashankgondala152
4 жыл бұрын
Very good explanation!
@Zaibech
4 жыл бұрын
I feel like the collusion behind the previous FCC auctions should've been talked about further.
@camair3350
4 жыл бұрын
I want to know how do you get all these videos and pictures? Where can we get them?
@PunicAtSchool
4 жыл бұрын
Hey EE, I have heard a lot about creating opportunities for third world countries by microloaning! Could you talk a little bit about this topic? So I can understand why it is sooooo helpful for my folks in my homecountry? Thank you!
@behrensf84
4 жыл бұрын
The most amazing thing is that we have created value, without having created anything physical. There is no more stuff, but there is more wealth...
@ddobefaest9334
4 жыл бұрын
Abra Kadabra! Now go out and spend your life working for it.
@Santanilla
4 жыл бұрын
Super interesting, thanks for making
@g.c955
4 жыл бұрын
The multiround model sounds like the original English style, just replacing 1 item with many items. So, how can it make sure the final price is also a fair price for the seller?
@b.cdrisk2035
4 жыл бұрын
Thank you for recognizing the achievements of Dr. Walter White
@Ali24219
4 жыл бұрын
Professor Robert Wilson went to my high school I heard it on the school news but I didn’t think it was that big of a deal because it was almost being swept under the rug and put out of the limelight due to this crazy year (I’m a ninth grader)
@chesra9515
4 жыл бұрын
The A with a single ring or dot above it is pronounced as an O. So Skone. The actual Swedish pronunciation has more nuance to it but as a rule of thumb å=o . Thank you for the video, a lot of new information.
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