 | | Re: Proxy ratcheting: How do auction systems work? —Larry Pieniazek
| | | | Hmm, interesting theory. I bet it doesn't work that way, though. If the gap between the current bid and the top of the proxy is large enough, and a hard bid (or proxy bid with the right top value) is submitted, my overbid can be pushed to an amount (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
| | | | | | | | | | Re: Proxy ratcheting: How do auction systems work? —Mike Stanley
| | | | | (...) Yeah, that's crap. I think I understand how SC has tried to give somewhat equal treatment to firm and proxy bids, but, in my mind, no matter what kind of bid you make, you ought to have to beat the previous high bid by the minimum increment. (...) (25 years ago, 27-Apr-99, to lugnet.market.auction)
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