Subject:
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Re: Proxy ratcheting: How do auction systems work?
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Newsgroups:
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lugnet.market.auction
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Date:
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Tue, 20 Apr 1999 00:59:54 GMT
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Viewed:
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719 times
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In lugnet.market.auction, lar@voyager.net (Larry Pieniazek) writes:
> Todd Lehman wrote:
> > 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.
>
> Good. (note that this is clearer than your first statement "AucZILLA
> works the 'correct'<emphasis mine> way" :-) )
No, that was my second statement -- <grin> -- it was posted two minutes
after the first one, quoted above.
> I was getting myself into a panic for nothing, I must have been
> misreading the results I was examining.
It's especially tricky sometimes to read what's going on when there
are multiple identical copies of lots.
> What about Derick's example, scenario 3? Does B get it in the AucZILLA
> case?
A keeps it under those circumstances.
--Todd
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Message has 1 Reply:
 | | Re: Proxy ratcheting: How do auction systems work?
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| (...) SCENARIO 3 Bidder A bids $100, with a proxy max of $150. Bidder B bids $150.01, bid type is irrelevant. Outcome: B is High bidder with $150.01, and increment is ignored. A has no first bid benefit - a trade-off for the benefit in scenarios 1 (...) (25 years ago, 20-Apr-99, to lugnet.market.auction)
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