Interesting article on Vickrey auctions for limited runs of custom goods.
Potentially of interest for authors? cc @BrianNiemeier @robkroese
@JASutherlandBks @NerdKing52
https://kevinlynagh.com/notes/pricing-niche-products/ …
-
Show this thread
-
2/ Now I'm thinking of the idea of combining a Patreon clone with a Vickrey's auction mechanism. "I will write one science fiction story per month. How much will you be willing to pay for a limited edition paperback? Top 20 bidders all get the book at the price the 21st bid"
2 replies 1 retweet 6 likesShow this thread -
Replying to @MorlockP @BrianNiemeier and
“Limited edition” is the key. Vickery auctions only work if you only want to sell X number of items. How many copies of your book do you want to sell?
1 reply 0 retweets 3 likes -
Replying to @random_eddie @BrianNiemeier and
you're asking questions ... by responding to a tweet that includes answers to your question
1 reply 0 retweets 2 likes -
Replying to @MorlockP @BrianNiemeier and
It was a rhetorical question, intended to point out that the typical author’s answer is “as many as I possibly can”. I.e. no limits, and thus no auction.
1 reply 0 retweets 3 likes -
Replying to @random_eddie @BrianNiemeier and
ah, sorry > the typical author let me stop you right there
1 reply 0 retweets 5 likes -
Replying to @MorlockP @BrianNiemeier and
Like all writers, you’re atypical
2 replies 0 retweets 3 likes -
Replying to @random_eddie @MorlockP and
But back to the point, I think it’s interesting that like the custom keyboard guys, an author can make a “limited edition” to sell at demand-curve saturation via auction, but unlike keyboards can still ALSO sell an infinite number of “just plain old books” at rock-bottom prices.
2 replies 0 retweets 2 likes
yes, you're putting your finger on a core dynamic ... but there's nothing new under the sun cars have been priced this way ("Eddie Bauer Limited Edition Range Rover"), etc. could go on and on with examples going back 100 years of "artificial scarcity", Veblen goods, etc.
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.