Robert Wilson and Paul Milgrom "developed the theory for auctions of objects with a common value – a value which is uncertain beforehand but, in the end, is the same for everyone." and "formulated a more general theory of auctions that not only allows common values, but also private values that vary from bidder to bidder. " respectively.
The Seneca Effect: Why Growth is Slow but Collapse is Rapid by Ugo bardi Seneca Effect Usually you want to slow the decline but nature like us must abhor things that taste bad and want to get it over with like a dentist appointment. Implosion, if the buildings around can take it. Many times when companies go bad, repackaging useful pieces and selling them buys time for other parts. eg Nokia to Microsoft. When is study of declines helpful? study of shark population
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