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Sellegit's auctions start at a maximum price, which drops as bidders specify the highest and lowest price that they are willing to pay.
With a broker you are presumably smart enough to place limit orders, specifying a maximum price (which you will usually set very close to the last reported trade or the midpoint of the bid-ask spread).
They also need to set a low and high 'floor' – a minimum and maximum price – which will be in place for four years to protect Australian businesses from fluctuations in Europe.
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If N were set at 25, then the game would have an expected value of $25, and that would be the maximum entry price which a rational agent would pay to play (as in Hacking's intuition).
All packaged goods bear an M.R.P (Maximum retail price) which is the sale price at all city and village shops.
This market is based upon an implicit auction mechanism, each player submits his bids composed by a quantity and a price representing the maximum price at which he is willing to buy energy or the minimum price at which he is willing to sell energy.
And to the extent that such third-party payment is tax-financed, the question arises whether there is a maximum price above which future Americans situated further up in the income distribution will not be willing to buy additional life-years for their poorer fellow Americans, especially if the latter lead lifestyles that detract from good health.
This returns the maximum price at which offsets would be an attractive compliance vehicle: V = Ps - f·Pe.
UK tender prices are unknown but are likely to be substantially lower, so we also did a threshold analysis to find the maximum price at which two dose vaccination and three dose vaccination become cost effective.
The maximum price (Pm) above which a new product is no longer cost-effective is defined by the point where the threshold value intersects with the increasing linear function for new interventions that are more effective but result in higher total costs than with the current health care program (see Fig. 1).
Your chances of getting more than $25 (the entry price which Hacking suggests is a reasonable maximum) are less than one in 25.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com