Subject:
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Re: Ebay sniper? you make the call
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Newsgroups:
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lugnet.market.theory
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Date:
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Wed, 20 Nov 2002 19:19:23 GMT
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Viewed:
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1504 times
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In lugnet.market.theory, Frank Filz writes:
> The solution to the problem is to play the game the way it was intended,
> and bid early (and often :-).
>
> Frank
Where was it ever written or explained that the way ebay is 'intended' to
work is by bidding early and often? I would argue just the opposite. They
are fixed end time auctions. The only thing that functionally has any
meaning is being the high bidder at the end. The theory of proxy bidding
implies that you decide what you're willing to pay and bid exactly once. In
which case all bids will wash out the same in the end so it would also no
longer matter when you bid (yes, barring ties.)
The only thing that gets in the way of this is that people want the
opprtunity to change their mind. It is not so much last minute bidding that
deprives you of the chance to change your mind - it is the fact that the
auction has a fixed end time. At that moment everyone in the world loses
the opportunity to change their mind about that auction, whether to bid more
or bid at all. Just as everyone in the world had the opprtunity to bid at
any time that the auction was running. None of this is more or less fair to
one person than another. If you think it is, then I would argue that you're
taking it too personally (or have the simple misconception that you're
entitled to something because you were the high bidder for so many days.)
And, that, I am pretty sure is not how it was intended to work.
(Overloading pages or bidding more than you intend to pay or shill bidding
or whatever is unfair, but those are issues unto themselves unrelated to the
baisc right to bid at any time an auction is running.)
my 2 cents,
John
#388
(who is not trying to be argumentative but is seriously curious where this
bid early and often conception comes from because, based on they way ebay
auctions work, that methodology is meaningless, unproductive, stressful, and
needlessly time consuming.)
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Message has 2 Replies:
 | | Re: Ebay sniper? you make the call
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| (...) Definitely agree-- For the sake of the buyers, snipe. It WILL result in lower prices, even though it shouldn't. That way people don't have a chance to change their minds and make the price go higher. For Ebay's sake (and for the seller's-- and (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
| | | Re: Ebay sniper? you make the call
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| (...) If the intent was for everyone to submit bids at the last possible minute, with no opportunity to react to others bids, then they could have chosen a completely standard auction format, the sealed bid auction. In a sealed bid auction, you may (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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Message is in Reply To:
| | Re: Ebay sniper? you make the call
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| (...) Certainly could be a problem, and not a nice thing to do (and something that one could take legal action against if it could be proved, and probably illegal), but I don't have too much sympathy to the snipers locked out of this, you're trying (...) (22 years ago, 20-Nov-02, to lugnet.market.theory)
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