 | | Re: Proxy ratcheting: How do auction systems work?
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(...) [snip] (...) Market theory could include algorithms, etc. but my initial reaction is - What makes an auction good, just, fair, well run - it turns into an ethical discussion for me - although that might not be a bad topic for here either. (25 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) [snip] (...) Market theory could include algorithms, etc. but my initial reaction is - What makes an auction good, just, fair, well run - it turns into an ethical discussion for me - although that might not be a bad topic for here either. (25 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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Messages also help when a bidder is trying to bid on ALL lots of a piece, you only want ONE, and after the bids get ridiculously high, you find out it's because he needs "all the lots minus X pieces from the last lot", you only need X or less, so (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Which is the MUCH more likely use. -- | Tom Stangl, Technical Support Netscape Communications Corp | | Please do not associate my personal views with my employer | (25 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Hey, that's a cool name that might work. Are these analysis/theory threads becoming too much to follow in a primiarly-non-discussion group? Are these discussions noise here? If so, then yes, there should be a separate group for this sort of (...) (25 years ago, 22-Apr-99, to lugnet.market.auction, lugnet.admin.general)
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| | Re: Proxy ratcheting: How do auction systems work?
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Todd Lehman wrote in message ... (...) unable (...) as (...) to (...) I don't know if eBay spends ANY time policing their system. I am sure they do, but its not evident. The feedback thing seems to be the main thing thats used. And if you fail to (...) (25 years ago, 22-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, Todd Lehman writes: [snip] (...) From the number of the responses to this and a few other Auction technology threads, maybe we need lugnet.maket.technology group? (25 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Sure, of course it's more honest if the bidder bows out honorable way. But not everyone is going to do that. If you allow people to renege on their high bid without any penalty or record-blackening, the result over time is many frustrated (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) Sanjay's recent Maersk Truck auction is another good example. One early bidder bid $50 when the rest of the trucks were at $35. The $50 truck sold early and the rest ended up going for more than $50. (25 years ago, 22-Apr-99, to lugnet.market.auction)
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| | Re: Proxy ratcheting: How do auction systems work?
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(...) But now you're not talking about having to beat the proxy by the increment, you're talking about bidders being unwilling to go to the next increment level. That's a different problem, and happens in every single auction -- they end when no one (...) (25 years ago, 22-Apr-99, to lugnet.market.auction)
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