4.24 Workshop: Rent Seeking

This workshop assumes that you have recently completed Workshop: Raffle.

In this workshop, we implement a rent-seeking competition, where a sponsor attempts to sell a prize (e.g. 10 ETH) and a number of bidders seek to acquire the prize by bidding for it (e.g. 5 ETH). Unlike a "normal" auction, however, the bidders lose the money they bid to the sponsor. Thus, while the winner may get more than the bid, and the sponsor may get more than they give away, there is a net transfer away from the bidders to the sponsor. This program also uses linear state.

This page is a placeholder for a future more detailed workshop. You could try to implement yourself though, given the sketch above! If you’d like to see a draft version of our code, please visit examples/rent-seeking in our GitHub repository