vault backup: 2025-10-13 16:32:45

strategy.md

@@ -31,8 +31,8 @@ are made with a game-theoretic lens.
 
 ### Dominant Strategy
 
-The dominant strategy is the course of action
-that results in the best outcome
+A dominant strategy is one
+that results in the better outcome.
 
 ### "Solved" Games
 
@@ -43,3 +43,16 @@ that results in the best outcome
 Auction theory is a subset of game theory
 
 <!-- TODO: -->
+
+#### Reverse Auction
+
+In a reverse auction,
+bidders compete for the right to _sell_ a product or service.
+
+#### Sealed-Bid Auction
+
+Opposite of a conventional "open" auction,
+in a sealed-bid auction,
+bid prices are hidden from the bidders.
+
+<!-- TODO: -->