 | | Re: Proxy ratcheting: How do auction systems work?
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| (...) No, that was my second statement -- <grin> -- it was posted two minutes after the first one, quoted above. (...) It's especially tricky sometimes to read what's going on when there are multiple identical copies of lots. (...) A keeps it under (...) (26 years ago, 20-Apr-99, to lugnet.market.auction)
| | | | | 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 (...) (26 years ago, 20-Apr-99, to lugnet.market.auction)
| | | | | Re: Proxy ratcheting: How do auction systems work?
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| (...) Yes, of course. (...) That's broken. --Todd (26 years ago, 20-Apr-99, to lugnet.market.auction)
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