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Longer pieces, with the workings left in.

Every piece names its sources. Where we relied on somebody else's estimate, we say so, and where we did the arithmetic ourselves we show it.

Aug 16, 2026
I simulated the auction. Winning by bid costs 80% more than winning by quality.

Somebody asked why their cost per click kept climbing when they had not touched a bid in a year. I did not have an answer, so I simulated the auction.

Auction mechanics
4 min