Bob Hawkes

Can The Nobel Prize In Economics Improve Domain Auctions?

By Bob Hawkes, Oct 14, 2020
  1. passini

    passini Established Member ★★★★★★★★★★

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    Nice article, as always, thank you!

    Being myself (mostly) an art dealer I've used A LOT auctions for my 26+ years of selling art.

    When it comes to domains I have never sold one at auction and for a very specific reason. Domains (with the exception of a small amount) are not really liquid assets. I strongly believe they are much better sold via direct sale. (a classic auction house that I've been using for many years for my art/collectible business) tried to bring domain auctions mainstream but without much success. I still see every domain auction as a "wholesale" sale. Just my 2 cents.
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  2. Bob Hawkes

    Bob Hawkes Top Member NameTalent VIP Gold Account Trusted Blogger

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    Really interesting insight - I had not considered the analogy that way by makes sense.

    Thanks for your kind comments. Before I started writing in domains I do volunteer right for a non-profit community newspaper. Perhaps an eventual goal is to actually try some freelance for national publications, as I would like to see naming, branding and domain names talked about more in general. But not sure if I actually will get to trying that.

    I guess what is called economics is very broad, but it seems to me that some branches of economics do exactly that.

    I agree. The only retail auctions that probably would work would be those with liquidity. Would be nice to have a discussion what types of names those would be.

    Thanks for all the comments, everyone.

  3. eyedomainous

    eyedomainous Top Contributor VIP ★★★★★★★★★★

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    Thanks, Bob. Its also exciting to see the frequency-to-call-letters space begin to technically merge with the domain number-to-namespace to create a unified spectrum... like two sides of the same coin.

    Some similarities come to mind:
    - 'beachfront property' is the 700MHz spectrum (used for TV, emergency services and now mobile).
    - spectrum auction regs are called 'mother's milk'.
    - small carriers, private equity firms and individuals can participate in the auctions
    - like .com, the US spectrum is much more valuable (in demand) than spectrum from comparable countries.

    I think the domain industry could learn from the spectrum (read namespace) auction Nobel research.
    The value of 'mother's milk' / hand regs, comes to mind... as the best hand-regs, like the best frequency call-letters, rarely appear in the after-market.

    Imagine holding "NEW" & "USED" contextual domain auctions on the same days as spectrum auctions?

  4. Mike Goodman

    Mike Goodman Established Member

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    That's true. But the "laureate" end of it is the academic end. Academic papers will not be treated as eligible for the academic journals unless the authors subscribe to the "neoclassical", armchair philosophy version of economics. That begins with ""the theory of the firm", which is absolute tosh, and bases everything else on it.

    There is a huge amount of evidence based research being carried out and has been carried out. But be very clear: neoclassical economics is pure theory and it is theorised to underpin a very specific, politically motivated, view of society. All of the useful stuff is from economists with, let's say, a more modern approach.

    See, for instance, Steve Keen's "Debunking Economics" for a higher level view of the academic state of affairs. If, however, you wish to delve deeper into Steve's work, make sure you begin with a very good mathematics foundation.
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