Subject:
|
Re: Proxy ratcheting: How do auction systems work?
|
Newsgroups:
|
lugnet.market.auction
|
Date:
|
Mon, 19 Apr 1999 23:04:59 GMT
|
Viewed:
|
677 times
|
| |
|
|
In lugnet.market.auction, lar@voyager.net (Larry Pieniazek) writes:
> [...]
> In particular, if you look at bidding history, I think this is how
> AucZILLA works. But I could be wrong, which is why I am asking.
>
> Consider this scenario. 1 dollar minimum bump.
>
> Item starting bid is 10.
> Bidder A puts in a bid of 10 with a proxy cap of 13.
> Bidder B puts in a bid of 11. This exceeds A's current bid, and B gets
> the item "temporarily".
>
> The auction software ratchets A's bid to 12, taking the item back.
> Bidder B puts in a bid of 13. This exceeds A's current bid. B gets the
> item.
In the AucZILLA system, the lot is awarded to A (not B) for 13, because A's
bid of 13 came in first.
> No further bids ensue
>
> For the software to allow A to overbid B, A would have to have a proxy
> cap of 14. But A does not. His cap is 13, so the software cannot bid him
> to 14, nor should it. So B retains the item.
>
> Yet A had signaled willingness to go to 13, and had done so well before
> B bid that amount. By rights, the item should have been won by A. He
> "bid 13" first. Had he put in a hard bid of 13, he would clearly have
> been there first under AucZILLA rules, right?
Yes.
> Am I all wet? Does AucZILLA work this way?
> [...]
AucZILLA gives priority to the earlier of two equal bids, regardless of
automatic increments. It would go to A for 13, not to B for 13.
--Todd
|
|
Message has 1 Reply:
Message is in Reply To:
 | | Proxy ratcheting: How do auction systems work?
|
| I (as well as all other participants) got a note from Ian Bishop in early March about a proxy quandary that had arisen. Seems he had a bidder that had bid 285 (a winning bid at the time) with proxy cap of 300. Someone else subsequently bid 300. Ian (...) (25 years ago, 19-Apr-99, to lugnet.market.auction)
|
96 Messages in This Thread:
 
 
- Entire Thread on One Page:
- Nested:
All | Brief | Compact | Dots
Linear:
All | Brief | Compact
This Message and its Replies on One Page:
- Nested:
All | Brief | Compact | Dots
Linear:
All | Brief | Compact
|
|
|
|
