| | Re: Proxy ratcheting: How do auction systems work?
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Larry, I must protest! In designing the system, I wanted first of all to allow firm bidding - which is an important signialing tool in an auction. But the 'common' rules in proxy-only auctions would have bestowed every advantage upon the proxy bid, (...) (26 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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(...) 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 (...) (26 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 (...) (26 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 (...) (26 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 (...) (26 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. (26 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 (...) (26 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? (...) (26 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 (...) (26 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 (...) (26 years ago, 20-Apr-99, to lugnet.market.auction)
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