Addictive Auctions: using lucky-draw and gambling addiction to increase participation during auctioning

TL;DR

This paper introduces a novel auction system that leverages gambling addiction and lucky draws to boost participant engagement, while maintaining fairness and trust through existing security features.

Contribution

It proposes a new auction model that exploits gambling tendencies to increase participation, integrating security measures to ensure fairness.

Findings

Increased participant engagement through gambling-inspired mechanisms.

Maintained fairness and trust with existing security features.

Potential for higher resource allocation efficiency.

Abstract

Auction theories are believed to provide a better selling opportunity for the resources to be allocated. Various organizations have taken 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.