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 06:28:08 GMT
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Viewed:
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728 times
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In lugnet.market.auction, rfarver@rcn.com (Rob Farver) writes:
> On Tue, 20 Apr 1999 00:59:54 GMT, lehman@javanet.com (Todd Lehman) wrote:
> > In lugnet.market.auction, lar@voyager.net (Larry Pieniazek) writes:
> > > What about Derick's example, scenario 3? Does B get it in the AucZILLA
> > > case?
> >
> > A keeps it under those circumstances.
>
> 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 and 2
>
> Reprinted Scenario 3 for clarity...
>
> How does AucZILLA determine that A keeps the above lot? Does a bidder have
> to beat the PROXY bid by a minimum increment?
Yes, of course.
> If that's the case then this
> differs from how eBay handles this. In eBay's case, you have to beat the
> current bid by a minimum increment, not the proxy.
That's broken.
--Todd
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Message is in Reply To:
 | | 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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