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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Thu, 22 Apr 1999 22:34:50 GMT
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Viewed:
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801 times
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Todd Lehman wrote:
> In lugnet.market.auction, simon.robinson@sdxplc.com (Simon Robinson) writes:
> > So in a similar scenario to the one Larry's pointed out
> > - if I come along with a $200 firm bid (and a $250 maximum) just
> > before your phone bill arrives, then I don't get the shuttle, and
> > your firm bid shoots up to $250.
> >
> > On the other hand, if I'd waited an extra half hour and placed my $200
> > bid just after you withdrew your proxy, then I might get the shuttle.
> > You end up with a situation in which you might reward someone for delaying
> > posting a bid!
> >
> > Somehow, I don't think auctions are supposed to work like that. :)
>
> It can only reward someone for delaying if they knew that you had dropped
> your bid, which they wouldn't know. Also, consider the case when you raise
> your proxy max rather than leaving it where it is.
Which is the MUCH more likely use.
--
| Tom Stangl, Technical Support Netscape Communications Corp |
| Please do not associate my personal views with my employer |
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