Addictive Auctions: Using Lucky-Draw and Gambling Addiction To Increase Participation During Auctioning
Ravin Kumar / Int.J.Mgmt.Res.&Econ. 1(1) (2021) 68-74
7 Pages Posted: 29 Mar 2021 Last revised: 4 May 2021
Date Written: March 18, 2021
Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have took measures to increase trust among participants towards their auction system, but trust alone cannot ensure a high level of participation. We propose a new type of auction system which takes advantage of lucky draw and gambling addictions to increase the engagement level of candidates in an auction. Our system makes use of security features present in existing auction systems for ensuring fairness and maintaining trust among participants.
Keywords: Auction System, Lucky Draw, Gambling Addiction, Auction Addiction
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