this post was submitted on 11 Dec 2024
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Judge Rejects Sale of Infowars to The Onion (www.nytimes.com)
submitted 23 hours ago by [email protected] to c/technology
65 comments fedilink hide all child comments
 

“It seemed doomed almost from the moment they decided to go to a sealed bid,” Judge Lopez said. “Nobody knows what anybody else is bidding,” he added.

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[–] [email protected] 3 points 22 hours ago

https://en.wikipedia.org/wiki/Vickrey_auction

There are numerous formats of auction. I don't think a Vickrey auction is what they did, but it is an example of a sealed auction format that is well supported as legitimately and efficiently maximizing value for the seller.