Subject:
|
Re: Proxy ratcheting: How do auction systems work?
|
Newsgroups:
|
lugnet.market.auction
|
Date:
|
Tue, 20 Apr 1999 01:46:40 GMT
|
Viewed:
|
734 times
|
| |
|
|
In lugnet.market.auction, dbulkley@SeriousCollector.com (Derick Bulkley)
writes:
> SCENARIO 3
> Bidder A bids $100, with a proxy max of $150.
> Bidder B bids $150.01, bid type is irrelevent.
>
> 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 and 2
What is the outcome of each of these scenarios?...
SCENARIO 4A
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $150.00 n/a
12:23:14 12:23:21 C $150.02 n/a
SCENARIO 4B
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $150.01 n/a
12:23:14 12:23:21 C $150.02 n/a
And these?...
SCENARIO 5A
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $110.00 $150.00
12:23:14 12:23:21 C $165.00 n/a
SCENARIO 5B
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $110.00 $150.01
12:23:14 12:23:21 C $165.00 n/a
And these?...
SCENARIO 6A
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $110.00 $150.00
12:23:14 12:23:21 C $120.00 $166.00
SCENARIO 6B
Time Time
Page Loaded Bid Posted Bidder Bid Proxy Max
=========== ========== ====== ======= =========
12:14:33 12:15:07 A $100.00 $150.00
12:23:11 12:23:19 B $110.00 $151.00
12:23:14 12:23:21 C $120.00 $166.00
--Todd
|
|
Message is in Reply To:
 | | Re: Proxy ratcheting: How do auction systems work?
|
| Larry, We pulled our hair out over this one too. In an attempt to be fair - in an environment that allows both firm and proxy bids - we arrived at the following, which acts in favor of the existing high bidder in 2 of 3 cases:: Starting bid $100. (...) (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
|
|
|
|
