alt Hacker NewsNo, middlemen would happen if it's profitable to be a middleman. Extreme case: one person bids just enough to get all the rights, then charges double that to fishermen to use them.
No, middlemen would happen if it's profitable to be a middleman. Extreme case: one person bids just enough to get all the rights, then charges double that to fishermen to use them.
Which means in the next bidding round the fishermen would bid somewhere between the double they were charged, and could still apparently have a working businesses with, and what the middleman bid.
All it means is that they were expecting too large profit margins and someone called their bluff.