 | | Re: Proxy ratcheting: How do auction systems work?
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(...) No. Not required. The auction system doesn't have to be fair to be working "correctly". But the RULES can be broken. And I'm with you, the rules in eBay that allow a one penny overbid to take a solid wide range proxy bid away are indeed (...) (25 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) I don't know if you're splitting hairs, but splitting hairs is probably a good thing in this case. :I This whole area/topic (auction theory) is something that I'm extremely opinionated[1] about -- and not afraid to show it, even at the risk of (...) (25 years ago, 21-Apr-99, to lugnet.market.auction)
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| | Glen's Assorted Lego Auction - 4/20 Update
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*** Items have progressed to "Going 2". If no new bids are received, the auction will progress to "Sold" on Thursday 4/22. Items with bids will progress every two days until sold. *** Hello all. It is time again for another auction. Following is a (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Maybe a bit subjective, yeah. :) (...) And fairly. (...) I'll explain why it's broken below... (...) The behavior isn't broken given the rules. The rules are broken. EBay's rule (requiring a new bid to exceed the current bid by the minimum (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Re: Auction: Model Team/Technics/Town
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(...) As usual, if you pay me in USD, you pay 1.00 extra. If you pay in UK pound sterling you pay <whatever it costs you to arrange for that> extra. If you live in the US, usually I am cheaper, but you decide what you want to do. (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Not to split hairs, here, because now that I'm reassured that AucZILLA works the way it does, I like the way it works... but isn't "correct" a bit of a stretch? I'd say an auction system is working "correctly" if the rules it claims to (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Any indications that AucZILLA doesn't work correctly have been incorrect. (...) What do you mean by "this way" and by "that sort of algorithm"? By "computationally inefficient" do you mean 1/1000 second versus 1/10000 second to process a bid? (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Update 4/19/99 pm: Pirate Auction - correction
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Hello all, Well, I goofed. Osvaldo's bid on 725 is actually $35. I'm sorry if this confused anyone. Current bids: 725 Osvaldo Fernandez $35 Going once 6289 Alex Eulen $100 Sold 6289 Otis Anderson $100 Sold 6289 Frank Filz $110 Sold 6263 Frank Filz (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Auction: Model Team/Technics/Town
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I've decided to take the plunge - unbelievably though it may sound, I actually appear to have more Lego than I want at the moment - so it's time to auction some off. I'm offering the following 5591 MODEL TEAM Mach II Red Bird Rig bids opening at $50 (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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Apart from a few replies that have indicated AUCZilla and possibly others don't work, this way, I'd be surprised if any bidding software actually used that sort of algorithm to calculate the new bid, simply because it's such a computationally (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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