 | | Re: Proxy ratcheting: How do auction systems work?
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| (...) Hmm, how so? Can you give an example? (...) I think a byproduct of assigning labels to bid types is confusion about what's really going on. What's really going on in a "proxy bid" is this: You have a bid range -- an ordered pair (x,y), where x (...) (25 years ago, 21-Apr-99, to lugnet.market.auction)
| | | | | Re: Proxy ratcheting: How do auction systems work?
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| Todd Lehman wrote in message ... :>Therein lies what I beleive to be the ugliness of timed :> auctions - they discourage bidders from revealing information (how they :> value a given lot) until as late as possible. : :Amen to that! : : :> Don't get (...) (25 years ago, 23-Apr-99, to lugnet.market.auction)
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