Subject:
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Re: [DISC] Shortcircuit eBay?
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Newsgroups:
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lugnet.market.auction
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Date:
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Wed, 28 Apr 1999 14:28:03 GMT
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Viewed:
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571 times
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On Wed, 28 Apr 1999 03:38:56 GMT, "Mitchell I. Puschett"
<mpuschett@pol.net> wrote:
> One of the biggest virtues of an auction is fairness - the idea that each
> bidder will walk away having won an item or having lost it to someone
> who wanted it more. (Money is a crude approximation of desire, but its
> the best one we have.) Similarly, a seller should leave with the confidence
> that his product was sold at a price no other bidder was willing to exceed.
> Sniping is effective at undermining this conversion of supply and demand.
> It disturbs the basic fairness of the market. If sniping did not work bidders
> would not practice it, and others would not complain about it.
Very nicely said.
Steve
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Message is in Reply To:
 | | Re: [DISC] Shortcircuit eBay?
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| (...) I think you are assuming that consumers are more rational then they actually are. If you carry your assumption to it's extreme, ebay should not need to keep track and publish the current high bid and bidder of an auction in progress. Each (...) (25 years ago, 28-Apr-99, to lugnet.market.auction)
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