› added 2 years ago

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TIL about second-price actions. Unlike normal auctions, players don't know what other people bid but the winner pays the price of the second-highest bidder. Microeconomics says that players will reveal their true price from the start instead of trying to manipulate the price like normal auctions

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D16Jr TIL that the sun has only completed 20 orbits (galactic years) around our galaxy since its birth.
J1JG8 TIL that Frances Perkins was the first female cabinet member in U.S. history. She was appointed by President Franklin D. Roosevelt as the Secretary of Labor in 1933. Her appointment was a significant milestone for women in government and she played a crucial role in shaping New Deal policies.
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