Going Once, Going Twice: Auctions (Part 1)

One of the things that LLMs can be really helpful with is brainstorming or generating new creative content. They are called Generative AI, after all—not just for summarization and question-and-answer tasks. But if you use LLMs for creative generation, you may find that their outp ...  Show more

It's been (*checks watch*) about five and a half years since we last talked. Fortunately nothing much has happened in the AI/data science world in that time. So let's just pick up where we left off, shall we? 

We discuss auctions. We first distinguish two extremes: common values and private values. We hold a common value auction in class and discover the winner’s curse, the winner tends to overpay. We discuss why this occurs and how to avoid it: you should bid as if you knew that your ...  Show more

*AUDIO NOTE* - There was a small issue with the guests mic during this interview, but we wanted to make sure everyone was able to get the great information in this episode, and enjoy the great conversation that Ariel and James had, so we did the best we can with the audio. Tha ...

Texte:
Le poster d'un film de Mickey Mouse datant de 1928 a été vendu plus de 100 000 dollars lors d’une vente aux enchères au Texas.

Traduction:
A 1928 film poster of Mickey Mouse sells for more than $100,000 at an auction in Texas.

The Abyssal Auction: Part Four

Following a tense exchange of money and merchandise, all heck has broken loose. Can the auction's bidders survive an assault from within -- and without?

Additional music in this episode: "Day I", "Day II", and "Night III" by Swelling ...