 | | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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As eBay uses Dutch auction, the price still increases; your bid for X dollars covers fewer and fewer units as the per-unit bids increase. I think I have seen the price-descending auction termed a "Yankee Auction" at some computer auction sites. (...) (25 years ago, 4-Aug-99, to lugnet.market.auction)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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(...) Not quite, in eBays dutch auction, you specify a quantity and bid. Your bid is what you are willing to pay PER item. For instance, if there are 25 widgets up for auction, and you bid $4 for quantity ten, your maximum bid is $40. If there were (...) (25 years ago, 5-Aug-99, to lugnet.market.theory)
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| | Re: The four types of markets (was Re: Reverse (buyer's) auction for train windows and other parts
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(...) wrote: (...) I would call both of these "standard" auctions simply because it's the buyers who outbid each other. This is true even for auctions where all the buyers bid at the same time (which I call "closed silent" auctions) because the bids (...) (25 years ago, 25-Aug-99, to lugnet.market.theory)
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