Английская Википедия:Chinese auction
Шаблон:Short description Шаблон:Auction Chinese auction is a type of the all-pay auction, where the probability of winning depends on the relative size of a participant's bid.[1] The choice of the winner is done by a lottery, whereby the bidders compete for a higher chance of winning.[1]
It is also known as penny raffle, chance auction and tricky tray.[2][3]
Etymology
The origin of the name is unknown.[1] There is no connection to Chinese culture.[2] The term probably originated from the time of Chinese Exclusion Act as Chinese immigrants were paid low wages and the raffle tickets were inexpensive too.[2]
Significance
Chinese auctions are usually conducted during charity events for fundraising.[4] Political elections and patent races can be modeled as Chinese auctions, in which the chance of winning is seen as proportional to the amount spent.[5]
References
