Attention those that have bid $8 for Catena Aurea
It looks like as of right now, about 50% of the production costs have been covered by those bidding $8. About 7%% (or a little more) have been covered by those bidding $20. So it looks like quite a few people have only bid $8, if they would increase their bid by just TWELVE DOLLARS they get 8 volumes and 2784 pages of early Church Fathers' commentary on the Gospels! If it actually goes at $20, or $18, won't you feel bad missing it for a measly $10 - $12?
Note also every recent Community pricing that actually went into production, actually dropped further once people saw it was going to press. So a bid of $20, which gets it into production, has the very likely effect of allowing us all to buy it at $18.
Please consider raising your bid on this fine resource if you have not already!
Peace and Happy Easter!
Comments
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The main product link is http://www.logos.com/communitypricing/details/5216
and Community pricing in general is http://www.logos.com/communitypricing
2017 15" MBP, iPad Pro
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Dom,
I bid the max early on. Thanks for continuing to advertise this. Eventually, it will hit the mark.
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I bid max too...come on everybody, bid higher!
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Dominick Sela said:
It looks like as of right now, about 50% of the production costs have been covered by those bidding $8. About 7%% (or a little more) have been covered by those bidding $20. So it looks like quite a few people have only bid $8,
Hi Dominic,
Your math in this paragraph makes no sense.
There are actually only a very small number of $8.00 bidders. The total for the $8.00 bid is right at 40% (the center of the dot is right on the line). Of this 40% approximately 2% comes from $8.00 bidders, and the other 38% of the total comes from those who have bid higher.
You need all the people who bid between $8 and $18 to raise their bid in order to get the total to 100% with the current group of bidders.
Don't get me wrong, I hope they all do this, and actually on average it is a smaller problem because the average bidder only has to raise his or hers by $6.00 [:)]
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I bid the max, too. We seem to be creeping up towards 75%. Once we hit 80% it's the home stretch! Everyone who bid less than $20, raise your bid by $6 or up to $20, whichever is less, and let's see if we can give this a much needed boost.
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Clinton Thomas said:Dominick Sela said:
It looks like as of right now, about 50% of the production costs have been covered by those bidding $8. About 7%% (or a little more) have been covered by those bidding $20. So it looks like quite a few people have only bid $8,
Hi Dominic,
Your math in this paragraph makes no sense.
There are actually only a very small number of $8.00 bidders. The total for the $8.00 bid is right at 40% (the center of the dot is right on the line). Of this 40% approximately 2% comes from $8.00 bidders, and the other 38% of the total comes from those who have bid higher.
You need all the people who bid between $8 and $18 to raise their bid in order to get the total to 100% with the current group of bidders.
Don't get me wrong, I hope they all do this, and actually on average it is a smaller problem because the average bidder only has to raise his or hers by $6.00
Hmm...not sure I agree, but before I explain why, let's agree we just want more people bidding [:D]
40% of the total amount OF MONEY comes from $8 bidders
38% of the total amount OF MONEY comes from those who have bid higher.
We don't know what the average bid of all those people is, let's just guess it's half way between 8 and 40, or $24.
so 38% of the MONEY is bid by people who on average bid $24. Since that bid is 3 times the $8 bid, and for sake of argument 40% and 38% are pretty close, we can say if "n" people bid $24 as a group on average, than "3 x n" people bid $8. Because the money from both groups is the same.
Example:
Let's assume 100 people bid $8 = $800. If that's 40% of the total money needed, total money must be $2000.
everybody else averaged $24, $8 to $40, and that group totals 38% of $2000. Or $760. (As a check, $800 plus $760 is $1520, or 78% of the money needed).
$760/$24 is 32 people approximately. So 100 people bid $8, and 32 people bid higher, $24 on average. Let's get the 100 people to raise the bid, that's the fastest way to get where we need to be!
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Dominick Sela said:
Hmm...not sure I agree, but before I explain why, let's agree we just want more people bidding
Your math makes sense to me. But I'm not too smart with numbers.
I bid the max a long time ago and would be happy with it at that price.
Logos 7 Collectors Edition
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Dominick Sela said:
let's agree we just want more people bidding
I agree.
Dominick Sela said:Hmm...not sure I agree
The math is very simple for this, so there is not much to disagree with. For any given price, its percent contribution at that price is given by the following formula
%Cn = %n - (%n+1)/Pn+1 * Pn
where:
- %Cn is the percentage contribution from the current price, n
- %n is the total percentage at the current price, n
- Pn is the current price point
- %n+1 is the total percentage at the next price
- Pn+1 is the next price on the graph.
So for this resource:
- Pn = $8.00
- %n = 41% (Estimate from graph at $8.00)
- Pn+1 = $10
- %n+1 = 47% (Estimate from graph at $10.00)
Plugging these numbers into the above formula give
%C8 = 41 - (47 * 8 / 10) = 41-37..8 = 3.2%
This means that of the 41% that the graph is showing for $8.00 bids, 3.2% of it comes from those bidding $8.00. The rest is from all the people bidding $10.00 or more.
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Clinton Thomas said:
%C8 = 41 - (47 * 8 / 10) = 41-37..8 = 3.2%
I will just take your word for it and thank God for giving others the clarity of mind to do mathematics. [:D]
My daddy & two brothers are math whizzes. I'm the good looking one in the family.
Logos 7 Collectors Edition
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Wow! Aren't these forum postings so educational! I just love to see all this stuff.
Matthew C Jones said:Clinton Thomas said:%C8 = 41 - (47 * 8 / 10) = 41-37..8 = 3.2%
I will just take your word for it and thank God for giving others the clarity of mind to do mathematics.
My daddy & two brothers are math whizzes. I'm the good looking one in the family.
My father was a mathematician, one of my sisters is a principal teacher of mathematics and another is a senior auditor with Audit Scotland. I am just in awe of people who can do maths. In a couple of years, when I retire I'm going to attempt a degree in mathematics and science to round out my education. In the meantime, I'll just do awe…
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Hi,
There are 3 types of people in the world, those who can do math and those who can't.
[:)]
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Clinton Thomas said:
There are 3 types of people in the world, those who can do math and those who can't.
Never heard that statistic before. I'll add to my favourites list along with :
43.4% of all statistics are made up on the spot
There are 10 types of people in this world, those who know binary and those who don't.
But yes, both the math and the conclusion (asking people to bid higher) is sound. Alternatively, if bidders at $18 - $24 raised their bids to $26 that would also get it to 100%. And if that prompted all the under bidders to come to the party then it would drop down to $20.
Considering the pre-pub price for George Mueller compared to the $15 it went for in CP, I wonder what might be the eventual price for Catena Aurea?
Scripture set to music for worship and aid memorization. https://www.youtube.com/channel/UC-DojPa0TlpCGhtUJq1e3Pw
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Jeremy White said:Clinton Thomas said:
There are 3 types of people in the world, those who can do math and those who can't.
Never heard that statistic before. I'll add to my favourites list along with :
43.4% of all statistics are made up on the spot
There are 10 types of people in this world, those who know binary and those who don't.
[:)] Another favorite of mine:
There are two types of people in the world, those who divide people into two types, and those who don't.
Jeremy White said:Considering the pre-pub price for George Mueller compared to the $15 it went for in CP, I wonder what might be the eventual price for Catena Aurea?
I'm sure it'll eventually be less than $20, but I think it's important not to anticipate that too far in advance as it could slow down the progress on making it over the threshold. If we can get X people to jump in at $20 it will cross over faster than if we get that same X people to jump in at $18. But historically, once a community pricing product reaches 100% of production price, there's an influx of others motivated to jump in before it's too late, so the price comes down.
I'm working on a motivational post that explains more about what the Catena Aurea is and who the authors collected in it are. Stay tuned...
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Rosie Perera said:
I'm sure it'll eventually be less than $20
I realise now that my post wasn't clear - but the eventual price I was referring to was the the pre-pub / sale price. Mueller has jumped from $15 to $79.95 - I know which price I would prefer to pay!! I would imagine there would be a similar jump if/when Catena Aurea gets to pre-pub.
Scripture set to music for worship and aid memorization. https://www.youtube.com/channel/UC-DojPa0TlpCGhtUJq1e3Pw
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