 | | Re: Proxy ratcheting: How do auction systems work?
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(...) Hmm, how so? Can you give an example? (...) I think a byproduct of assigning labels to bid types is confusion about what's really going on. What's really going on in a "proxy bid" is this: You have a bid range -- an ordered pair (x,y), where x (...) (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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In lugnet.market.auction, John DiRienzo writes: <snippage> (...) Todd answered most of your points much more sensibly than I could, but I still want to reply this one. Any system (auction or otherwise) that encourages unfair activity, deserves at (...) (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've placed proxy bids which did not meet the seller's reserve. I couldn't figure out an easy way to force my minimum up and in a few cases not met the reserve because no one else came along to bump up my proxy. So I assume that a firm bid (...) (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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(...) increment (...) make (...) Now wait, screwed by who? To blame the auction system is just a way of shifting the blame - you knew before hand when the auction would end and could at any time have raised your proxy, if you were willing to pay (...) (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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(...) It doesn't allow them to withdraw their bid. It allows them to reduce their private maximum. This hurts neither the seller nor the other bidders in any way. (...) A firm bid is a special case of a proxy bid in which the minimum and maximum (...) (25 years ago, 21-Apr-99, to lugnet.market.auction)
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