Subject:
|
Re: Methodology: Reserve, Controlled Reserve, or No Reserve?
|
Newsgroups:
|
lugnet.market.auction
|
Date:
|
Sat, 24 Apr 1999 13:25:15 GMT
|
Viewed:
|
504 times
|
| |
|
|
On Sat, 24 Apr 1999 01:35:19 GMT, "Derick Bulkley"
<dbulkley@SeriousCollector.com> wrote:
> Question to all armchair economists/sociologists/game-theorists:
> (especially you, Todd ;-)
>
> From both the stand point of the buyer, and then the seller, what are your
> opinions of the following policies regarding secret reserve prices in auctions:
>
> 1) Reserve ok, whatever the seller chooses, goes.
>
> 2) Controlled reserve - the reserve price cannot exceed the opening bid by
> either $50 or 50%, whichever is greater.
>
> 3) Controlled Reserve: reserves are ok, but seller must state a "Value Range"
> that brackets the reserve. Sellers that state absurdly wide ranges would be
> advised to do otherwise.
>
> 4) No reserves whatsoever. If you insist on getting at least price X, then
> they must choose X as the minimum opening bid.
Definitely 4.
2 and 3 make no sense whatsoever -- reserves don't work unless they are
secret.
1 just sucks, as has been described in this thread already.
Steve
|
|
Message is in Reply To:
10 Messages in This Thread:
 
 
 
- Entire Thread on One Page:
- Nested:
All | Brief | Compact | Dots
Linear:
All | Brief | Compact
|
|
|
|
