If there are 100 tickets to a concert and 200 fans who would like to go to the concert, each placing a slightly different value on the tickets, is it more efficient to hold an auction for the tickets or to hold a random drawing for the tickets?
It's more efficient to hold a random drawing because the probability is higher. [tex] \frac{100}{200} = \frac{1}{2} [/tex] For every 2 person, 1 person gets to go to the concert.
