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In lugnet.market.theory, Larry Pieniazek writes:
> In lugnet.market.theory, Paul Rutenberg writes:
> > Hello Todd
> > Sorry you see it that way, but i don't.
>
> Paul, I suggest you let it go. In the larger scheme of things, you're right.
Paul certainly is right: SBA's and OBO's are the same thing.
> But you're not going to convince Todd, he's constructed what he feels is a
> very reasonable justification for a definition that allows single round
> sealed bid auctions to be treated as straight sales.
No, I haven't.
I never have said that single-round sealed-bid auctions were the same as,
or equivalent to, or even remotely the same as, straight sales. I _have_
been trying to explain that single-round sealed-bid auctions are the same
thing as OBO sales. OBO sales are _not_ the same thing as straight sales.
In a straight sale, the seller sets the price and the buyer chooses to take
or leave it at that price. The buyers cannot influence the price in that
sale. (Later, naturally, the seller might raise or lower the price depending
on how quickly and how many buyers offered money.)
In an SBA, each potential buyer submits exactly one offer and there are no
(shouldn't be any) solicitations for counter-offers. The seller then chooses
a buyer based on the price. The winning buyer has influenced the price.
Similarly, in an OBO, each potential buyer submits an offer and there are no
(shouldn't be any) solicitations for counter-offers. The seller then chooses
a buyer based on the price. The winning buyer has influenced the price.
> That definition was arrived at after much laborious discussion. Whether it
> is right or not is secondary to whether it has been codified into the ToS.
> It has, at least by reference.
>
> I personally have decided, in the interests of harmony, to let this one go,
> as it's, in the grand scheme of things LUGNETish, not that large a point. I
> suggest you consider the same course of action. Console yourself with the
> knowledge that you may have found the rare case where Todd is wrong about
> something... but let it go.
In one view of the world, auctions are anything and everything that's labeled
"auction." In another view of the world, auctions are the things that are
auctions in principle -- regardless of name.
What are auctions in principle? If you're a seller and you solicit offers,
and then use those offers to solicit progressively higher (or lower in the
case of reverse-auctions) counter-offers, then you are running an auction.
Remember the game show "Name That Tune"? That's a kind of auction! There
are offers ("I can name that tune in seven notes") and solicitations for
progressively lower counter-offers ("I can name that tune in SIX notes!")
and in the end, the high (low) bidder gets to pay, and if that person's money
ain't no good, then the next bidder in line gets to try.
Just because something isn't called an auction doesn't mean that it isn't an
auction. Inversely, just because something is called an auction doesn't mean
that it is an auction.
Do you believe that a rice cake is cake because it's labeled "cake"?
Do you believe that eye candy is candy?
Do you believe that a flower bed is a bed?
Do you believe that a white paper is white paper?
Do you believe that a pilot light is a light?
Do you believe that a side arm is an arm?
Those are silly questions. Isn't it equally silly to believe that a sealed-
bid auction is an auction without examining what it is, fundamentally?
There you have it.
--Todd
p.s. I'm not stubborn, just persistent.
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Message has 1 Reply:
Message is in Reply To:
 | | Re: FS-Pirate & Town Sets Mint In Sealed Boxes/Pack
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| (...) Paul, I suggest you let it go. In the larger scheme of things, you're right. But you're not going to convince Todd, he's constructed what he feels is a very reasonable justification for a definition that allows single round sealed bid auctions (...) (24 years ago, 28-Nov-00, to lugnet.market.theory)
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