Last Updated：2025/12/04
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In the classic dollar auction, seemingly rational bids escalate until the second-highest bidder ends up losing more than the prize, vividly illustrating a paradox in game theory.
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In the classic dollar auction, seemingly rational bids escalate until the second-highest bidder ends up losing more than the prize, vividly illustrating a paradox in game theory.
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Related words
dollar auction
Noun
(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.
Japanese Meaning
（ゲーム理論） 伝統的な合理的選択理論によると論理的な決定が連続して行われるはずであるが、実際には参加者が非合理的な判断を強いられるという逆説を示すために設計された非零和の逐次ゲーム。具体的には、1ドル紙幣の入札において、第二位の入札者が自分の入札額を失うため、最終的に最も大きな損失を抱えるという特徴がある。
Related Words
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