diff --git a/auctionsim/auction.go b/auctionsim/auction.go
new file mode 100644
index 0000000..beeb227
--- /dev/null
+++ b/auctionsim/auction.go
@@ -0,0 +1,70 @@
+package auctionsim
+
+import (
+	"math"
+	"slices"
+)
+
+/**
+ * RunAuction simulates a single-bid second-price auction with no reserve price
+ * between all bidders emitted by the provided generator, returning the winning
+ * bidder and how much they paid (the maximum bid of the second-highest bidder).
+ * 
+ * To simulate an auction between the first several bidders emitted by some
+ * generator, use CappedBidderGenerator (in generators.go).
+ */
+func RunAuction(g BidderGenerator) (float64, Bidder) {
+	highBidder := Bidder{}
+	maxBid := math.Inf(-1)
+	prevBid := math.Inf(-1)
+
+	for b, ok := g.Generate(); ok; b, ok = g.Generate() {
+		if c := b.BidCeiling(); c > maxBid {
+			prevBid = maxBid
+			maxBid = c
+			highBidder = b
+		}
+	}
+
+	return prevBid, highBidder
+}
+
+
+/**
+ * RunAuctionVerbosely simulates a single-bid second-price auction with no
+ * reserve price between all bidders emitted by the provided generator, 
+ * returning all bidders sorted by the order they dropped out and how much the
+ * winning bidder paid.
+ *
+ * Use CappedBidderGenerator to limit the size of the auction and therefore
+ * the number of bidders on the list.
+ */
+func RunAuctionVerbosely(g BidderGenerator) float64, []Bidder {
+	var bidders []Bidder
+	for b, ok := g.Generate(); ok; b, ok = g.Generate() {
+		bidders = append(bidders, b)
+	}
+	slices.SortFunc(bidders, func(a, b Bidder) int {
+		// If both bid ceilings are infinite in the same direction, we get NaN here...
+		d := a.BidCeiling() - b.BidCeiling()
+		if d < 0 {
+			return -1
+		}
+		if d > 0 {
+			return 1
+		}
+		// ...which is fine, since NaN will fail both comparisons and return 0 here, so these
+		// (incomparable) infinities get reported as equal, which is good enough.
+		return 0
+	})
+
+	if len(bidders) <= 1 {
+		// With one or zero bidders, there's no auction. The bidder (if any) gets it for the
+		// reserve price, but there is no reserve price, so the auctioneer pays the sole bidder
+		// an infinite amount of money to go away. Economics!
+		return math.Inf(-1), bidders
+	}
+
+	// Final price is the second highest bidder's limit.
+	return bidders[len(bidders)-2].BidCeiling(), bidders
+}
diff --git a/auctionsim/bidder.go b/auctionsim/bidder.go
new file mode 100644
index 0000000..8611915
--- /dev/null
+++ b/auctionsim/bidder.go
@@ -0,0 +1,90 @@
+package auctionsim
+
+/**
+ * A Bidder represents one competitor in an auction for some resource. It is
+ * not threadsafe. It is a pure value type.
+ */
+type Bidder struct {
+    /**
+     * Value stores the real value of the item being auctioned, to this bidder.
+     * If the bidder won the auction at this price, they would make exactly
+     * zero effective profit. It is the "rational bid" in a perfectly efficient
+     * marketplace.
+     *
+     * A bidder that wants some nonzero profit has a lower value on the item by
+     * the amount of profit they want -- that "minimum payoff" represents an
+     * unspecified cost for the time and effort of doing the project at all.
+     * Other costs for getting value out of the object also decrease its value.
+     *
+     * For example, a city to which hosting an F1 race is worth five billion
+     * dollars, but would spend three and a half billion dollars setting up for
+     * it, one billion dollars running it, and lose one billion dollars of tax
+     * revenue due to business disruption during setup and during the event,
+     * correctly values the race for negative five hundred million dollars. As
+     * demonstrated by this example, a value can be negative.
+     * 
+     */
+	Value float64
+
+	/**
+	 * Irrationality is the amount the bidder is wrong by on their belief about
+	 * how much the item being auctioned is worth to them. It can be positive
+	 * or negative. If it is positive, the bidder will overbid and potentially
+	 * lose money by winning for more than the benefit they get from the item.
+	 * If it is negative, the bidder will stop bidding too soon and potentially
+	 * fail to win an auction that, had they continued bidding, would have given
+	 * them the item at a profitable price.
+	 */
+	Irrationality float64
+
+	/**
+	 * Cash stores the bidder's maximum available cash to bid with (including
+	 * any debt, liquid assets, etc. that they are willing to commit to the
+	 * auction). It is a hard cap on their maximum bid.
+	 *
+	 * To simulate an auction without cash limits, set this to positive infinity
+	 * for every bidder.
+	 * 
+	 * A bidder's available cash can be negative. For example, a company that
+	 * cannot offer a bid to perform a job below a certain price has negative
+	 * effective cash on hand repersenting the maximum price they may "pay"
+	 * to win the auction -- the inverse of the minimum amount of money they
+	 * are allowed to accept as compensation for the obligation being auctioned.
+	 */
+	Cash float64
+}
+
+/**
+ * ValueBelief returns how much the bidder *thinks* the item is worth to them.
+ * The actual value to them is b.Value.
+func (b Bidder) ValueBelief() float64 {
+	return b.Value + b.Irrationality;
+}
+
+/**
+ * BidCeiling returns the highest bid this bidder would make for the item. This
+ * bid might be negative. A negative winning bid is possible and ordinary; this
+ * represents an auction between vendors competing to offer a service at the
+ * lowest price, for example.
+ */
+func (b Bidder) BidCeiling() float64 {
+	if b.ValueBelief() > b.Cash {
+		return b.Cash
+	}
+	return b.ValueBelief()
+}
+
+/**
+ * CashCapped returns whether this bidder *would* make a strictly higher bid
+ * than their calculated ceiling if they had the money to do so, but they don't.
+ */
+func (b Bidder) CashCapped() bool {
+	return b.ValueBelief() > b.Cash;
+}
+
+/**
+ * IsZero returns whether the given Bidder is indistinguishable from one that was zero-initialized.
+ */
+func (b Bidder) IsZero() bool {
+	return b.Value == 0 && b.Irrationality == 0 && b.Cash == 0
+}
diff --git a/auctionsim/generators.go b/auctionsim/generators.go
new file mode 100644
index 0000000..91edc0a
--- /dev/null
+++ b/auctionsim/generators.go
@@ -0,0 +1,133 @@
+package auctionsim
+
+import (
+	"math"
+)
+
+/**
+ * A Distribution is any stream of float64s.
+ */
+type Distribution interface {
+	/**
+	 * Draw returns the next float64 from the distribution and true, or
+	 * zero and false if the distribution is exhausted or otherwise unusable.
+	 */
+	Draw() float64, bool
+}
+
+/**
+ * A BidderGenerator is any stream of bidders.
+ */
+type BidderGenerator interface {
+	/**
+	 * Generate returns the next Bidder and true, or a zero Bidder and false if
+	 * the generator is exhausted or otherwise unusable.
+	 */
+	Generate() Bidder, bool
+}
+
+/**
+ * BiddersFromDistributions is a BidderGenerator that draws the bidders' values,
+ * irrationality levels, and cash on hand from the provided distributions.
+ */
+type BiddersFromDistributions struct {
+	Values Distribution
+	Irrationalities Distribution
+	Bankrolls Distribution
+}
+
+/**
+ * Generate implements BidderGenerator.
+ */
+func (b *BiddersFromDistributions) Generate() (Bidder, bool) {
+	value, ok := b.Values.Draw()
+	if !ok {
+		return Bidder{}, false
+	}
+	irrationality, ok := b.Irrationalities.Draw()
+	if !ok {
+		return Bidder{}, false
+	}
+	cash, ok := v.Bankrolls.Draw()
+	if !ok {
+		return Bidder{}, false
+	}
+
+	return Bidder {
+		Value: value,
+		Irrationality: irrationality,
+		Cash: cash,
+	}, true
+}
+
+/**
+ * NormalDistribution is a Distribution representing the normal distribution
+ * with some specified standard deviation and mean. Multiple instances of
+ * this type can share a math.Rand as long as they are not queried concurrently
+ * (since math.Rand is not threadsafe).
+ */
+type NormalDistribution struct {
+	Rand *math.Rand
+	StdDev float64
+	Mean float64
+}
+
+/**
+ * Draw implements Distribution.
+ */
+func (n *NormalDistribution) Draw() (float64, bool) {
+	return n.Rand.NormFloat64() * n.StdDev + n.Mean, true
+}
+
+
+/**
+ * ConstDistribution is a Distribution that always returns the same value.
+ */
+type ConstDistribution float64
+
+/**
+ * Draw implements Distribution.
+ */
+func (c ConstDistribution) Draw() (float64, bool) {
+	return (float64)c, true
+}
+
+/**
+ * CappedDistribution returns some fixed number of values from a Distribution,
+ * then stops returning values.
+ */
+type CappedDistribution struct {
+	D Distribution
+	Lim int64
+}
+
+/**
+ * Draw implements Distribution.
+ */
+func (c *CappedDistribution) Draw() (float64, bool) {
+	if c.Lim <= 0 {
+		return 0, false
+	}
+	c.Lim--
+	return c.D.Draw()
+}
+
+/**
+ * CappedBidderGenerator returns some fixed number of bidders from a
+ * BidderGenerator, then stops returning values.
+ */
+type CappedBidderGenerator struct {
+	G BidderGenerator
+	Lim int64
+}
+
+/**
+ * Generate implements BidderGenerator.
+ */
+func (c *CappedBidderGenerator) Generate() (float64, bool) {
+	if c.Lim <= 0 {
+		return Bidder{}, false
+	}
+	c.Lim--
+	return c.G.Generate()
+}