In the comments you mentioned that you have been doing this for 9 years. Have you had to resolve attempts to game yootling, gone through phases where yootle was played to win, or ended finding stable price equilibriums? I like the idea and am trying to predict the problems I would encounter.
The example that comes to mind is: I don’t mind doing dishes, my roommate despises the task. Under the introduction of yoodling a task will start at $5 : $55, then supply/demand, icecream stands on a beach, and all those other key words I did pay enough attention to will kick in, next thing you know we are sitting at 30:30 price equilibrium and playing the game of ‘what do I think this is worth to them’, ‘how much can I milk them for’ and the unmentionable ‘dammit, I won. I was only trying to force their price down’. All meta-games I’d rather avoid.
As an aside, similar systems have developed in some of my more open/honest friendships: Join me at my social event and I’ll buy the drinks, If I go to your social event you are buying the drinks. Those same systems have also blown up in my face with less established friendships:
‘I already have this planned for tonight, but make a better offer and ill cancel those plans to join you’
In practice the sealed-bid version seems to be ungameable, at least for us! None of the problems you mentioned have arisen. My parents have tried this and had more problems but as far as I could tell it always involved contention about what to consider to be joint 50⁄50 decisions. Bethany and I seem to have no problem with that, using the heuristic of “when in doubt, just call it a 50⁄50 decision and yootle for it”.
In the comments you mentioned that you have been doing this for 9 years. Have you had to resolve attempts to game yootling, gone through phases where yootle was played to win, or ended finding stable price equilibriums? I like the idea and am trying to predict the problems I would encounter.
The example that comes to mind is: I don’t mind doing dishes, my roommate despises the task. Under the introduction of yoodling a task will start at $5 : $55, then supply/demand, icecream stands on a beach, and all those other key words I did pay enough attention to will kick in, next thing you know we are sitting at 30:30 price equilibrium and playing the game of ‘what do I think this is worth to them’, ‘how much can I milk them for’ and the unmentionable ‘dammit, I won. I was only trying to force their price down’. All meta-games I’d rather avoid.
As an aside, similar systems have developed in some of my more open/honest friendships: Join me at my social event and I’ll buy the drinks, If I go to your social event you are buying the drinks. Those same systems have also blown up in my face with less established friendships:
In practice the sealed-bid version seems to be ungameable, at least for us! None of the problems you mentioned have arisen. My parents have tried this and had more problems but as far as I could tell it always involved contention about what to consider to be joint 50⁄50 decisions. Bethany and I seem to have no problem with that, using the heuristic of “when in doubt, just call it a 50⁄50 decision and yootle for it”.
In a second price auction the optimal strategy is to bid your true valuation.