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, 27 Apr 1999 13:57:53 GMT
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Reply-To:
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cjc@newsguy.NOMORESPAMcom
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Viewed:
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846 times
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Larry Pieniazek <lar@voyager.net> wrote:
> 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 where it is far less than the bid
> increment, thus putting me back in the same situation.
>
> What I'm getting at is that the auction should not be driven by "luck".
> A lucky guess on the part of a bidder, or a quirk in what numbers are
> chosen, should not result in one bidder being able to top another bidder
> by an amount that differs from the amount needed for the second bidder
> to re-top the first. Certainly not by a ratio of 6 to 1!!!
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. Everyone should have to
play by the same rules.
--
Lego Shop at Home: 800-835-4386 (USA) / 800-267-5346 (Canada)
www.lugnet.com/news/ - A great new resource for LEGO fans worldwide
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Message is in Reply To:
 | | Re: Proxy ratcheting: How do auction systems work?
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| 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 (...) (26 years ago, 27-Apr-99, to lugnet.market.auction)
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