Posted: Wed Jan 03, 2018 3:56 pm
Salandriagado wrote:Camicon wrote:Well, then the "game" wouldn't be bidding to name someone else's child, it would be fleecing idiots who are willing to spend money to name someone else's child.
I think you're missing the point. The strategy here is:
1) Open your books for bets on the name of the child.
2) Spend the minimum amount needed to force the name of the child to be something that nobody bet on.
3) Get more money from all of those bets that people lost than you spent in step 2.
I think you've misread me.
Xero's original scenario, letting people bid on what to name a child, is not a game theory scenario. Include the side bets and such and yes, you could have a game theory scenario, but then the "game" would be different; it wouldn't be bidding on the right to name a child, it would be managing a betting ring.
Xero's pseudo-auction charity is not a game theory scenario. It's incorrect to call it such, as the thread title does.
50 bucks per kid so named? Or 50 bucks now for future considerations?