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<div> <font face="Arial, Helvetica, sans-serif">1. There's nothing "curious" about calling the system "Vickrey bidding." It's named after its inventor, William Vickrey, and economist who sought to devise an auction bidding system that would produce prices that represented the true value of the items sold to their buyers. </font>(What, you thought eBay invented it?) You can read about it here: http://en.wikipedia.org/wiki/Vickrey_auction. And when you've finished, we'll ask Rich to explain the equations.<br>
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2. It sounds to me as if Blocker's getting off a dollar light.<br>
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3. How come only Adams gets to call you for an explanation? (The youngest one always gets spoiled.)<br>
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<div style="font-family:arial,helvetica;font-size:10pt;color:black">-----Original Message-----<br>
From: Mark Blocker <mbblocker@aol.com><br>
To: 'USML Announcements' <announce@usml.net><br>
Sent: Wed, Mar 28, 2012 10:49 pm<br>
Subject: [USML Announce] USML - Rosters/FAAB update<br>
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<div class="MsoNormal">League:</div>
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<div class="MsoNormal"> Various items.</div>
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<div class="MsoNormal"> 1. Based on the email traffic today, it looks like there is a consensus to (a) count the Japan games, and (b) have both FAAB bidding and roster adjustments occur for the first time this weekend. I have adjusted all of our league settings appropriately.</div>
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<div class="MsoNormal"> 2. The league is usually not operational until rosters are “submitted” on the system. I have now submitted the rosters, so everyone should be able to adjust their rosters accordingly (activate/reserve/change positions) starting now. Some owners noted in emails today that their roster moves were “rejected” and that should not happen going forward. As a reminder, the deadline to submit any roster moves is noon central on each Sunday.</div>
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<div class="MsoNormal"> 3. FAAB: Some reminders about submitting FAAB moves.</div>
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<div class="MsoNormal"> A. Deadline: The deadline to submit FAAB moves is midnight on each Saturday night. The FAAB system process moves and award the players within an hour or two. You should see the results by no later than 5 am Sunday.</div>
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<div class="MsoNormal"> B. Adjustments: If your FAAB bid is successful, you have from 5 am to noon central time on Sunday to adjust your roster. Please do not email adjustments to me unless you will be a on a remote island without internet access (or similar exigent circumstances).</div>
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<div class="MsoNormal"> C. How do I do I enter FAAB bids?: Please re-familiarize yourself with the entry of FAAB moves well in advance of Saturday midnight. Dennis, please feel free to call me and I will walk you through the process if you have any questions.</div>
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<div class="MsoNormal"> D. Contingencies: As in years past, you can make contingent bids, but you are responsible for setting up your bids accordingly.</div>
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<div class="MsoNormal" style="margin-left:1.0in;text-indent:-.5in">E. Ties: After this week, if two owners bid the same amount for a free agent, the player is awarded to the team lower in the standings. However, for this week only, ties will be broken by the system randomly, and the system alone determines the winner (i.e., I have no input into the randomization).</div>
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<div class="MsoNormal" style="margin-left:1.0in;text-indent:-.5in">F. Salary: We determine the salary of an acquired player by using “Ebay-style bidding,” which means the salary is one unit more than the second highest bid. Curiously, onroto refers to this system as “Vickrey bidding” (capitalization as shown), and is equipped to handle this system.</div>
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<div class="MsoNormal"> 4. Note to Jeff W: I have now paid for our league ($99), as I said I would after the draft. Along with the $10 I handed to you after the draft, my league fee has now been paid in this fashion.</div>
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<div class="MsoNormal"> Please let me know if you have any questions. I will try to answer them as rapidly as possible. </div>
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<div class="MsoNormal"> -- Mark B.</div>
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<pre style="font-size: 9pt;"><tt>_______________________________________________
announce mailing list
<a href="mailto:announce@usml.net">announce@usml.net</a>
<a href="http://lists.usml.net/mailman/listinfo/announce" target="_blank">http://lists.usml.net/mailman/listinfo/announce</a>
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