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2014-12-29
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{{comic | number = 3594 | date = December 29, 2014 | title = 2014-12-29 | image = 20141229.png | votey = 20141229after.png | titletext = 2014-12-29 }} ==Explanation== {{incomplete}} ==Transcript== {{Computertranscript}} :[Describe panel here] :In economics, there is a concept called 'dollar auction." :You auction a dollar. The winner and runner-up both pay the amount that they bid for :The dollar. :This leads to a surprising result. :I've bid 99 cents, and he's bid $1.00. So if I give up, I lose 99 cents. But, if I bid $1.01, and win, I only lose a cent. So. I should keep :Bidding :The point of the concept is to illostrate that rational choices can lead to irrational behavior. :Ifi lose, I'm out infinity dollars. But if I win, I'm only out infinity-minus-one :Dollars. :But sometimes I wonder about its applications in real life. :I'll wait for my spouse to calloff the marriage. That'll be easier. :smbc-comics.com ==Votey Transcript== {{Computertranscript}} :[Describe panel here] :Economics: Surprised that people are dumb since 1848. {{comic discussion}}
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