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	title of this thread your message Game theorists think that by hugely increasing the probability of a transaction through the sellers commitment in an auction format, that competition is incited and the bidding game is biased toward higher price. Game theorists are not dummies of course and the smart ones understand certain circumstances may favor auctions and others may favor the real estate agent format. For instance, if you can get a lot of hot-to-buy buyers to show up at an auction house on a given day to bid competitively for something, then an auction is the way to optimize price. But if you cannot get a lot of hot-to-buy buyers to show up at an auction house on a given day; that is, if there are few persons who are likely to really want this thing being sold, and if those few persons take a long time to locate, and tend not to like the auction experience, then you'd be a damned fool to auction something. You should, instead, retain an agent with expertise in finding the kind of buyer you want and plan on taking all the time necessary to seek out that special buyer who really, really wants this property and can afford it; then let this experienced agent work through the compromises necessary to reach agreement to transact. And just like Bob Dylan once sang, "You don't need a weatherman to tell which way the wind blows," you also don't really need a game theorist to tell you when to auction and when to use an agent, if you can think a little on your own. The auction approach and the agent approach have existed for as long as there have been things to buy and sell and money (or other forms of consideration) to buy and sell with. Game theorists just got some grants to rationalize and systematize the strategic bargaining process, especially for government agencies, who often finding themselves being asked (coerced) to transact property rights to, say, bandwidth, that have never been sold off recently, and which seem to be worth quite a lot, and which require a bit of fiduciary CYA to protect everyone's salaries and pensions, should lawyers begin suing over things being sold for inappropriate prices. In short, art often goes by auction, because there are lots of well-heeled collectors willing to show up one day at the same time to transact not just one painting, but dozens or hundreds. Real estate often transfers through agency, because there are fewer buyers, they can be harder to locate, and real estate transactions just are much more complicated in terms of legal and financial documentation than would be, say, a painting. associated web images (optional) associated web link (optional) your email your password create a forums account \| you forgot your password?