Subject:
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Re: Proxy bidding mechanics questions...
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 7 Oct 1999 00:34:21 GMT
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Viewed:
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297 times
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Jon D Hayward wrote:
> I had the same problem the other day, so I took a look at Todd's rules...
>
> I'd suggest that your item 2 is INCORRECT _because of_ item 3 -
>
> Rae's bid is $1.10 (hidden proxy $3.00)... Chris bids $2.00... system wants
> to apply Chris's bid at $1.20, but Rae has already bid that amount, so it
> stays with Rae at $1.20, but "through the power of proxy bidding" for every
> $0.10 increment, it stays in Rae's name until you get to $2.00 (_NOT_ $2.10)
>
> Actually, your item 1 is wrong too (IMO) - if the open minimum is $1.00, I'd
> expect the first bid to be accepted at $1.00, NOT $1.10...
This is what I see as a flaw in several of the auction scripts out there. If
the opening bid is $1.00, then I bid on it, dammit I should be able to bid
*$1.00*, not $1.10. It's annoying, I hope most of the people running the
scripts fix it. You aren't bidding against anyone as the first bidder, so you
should be entered at the OPENING price, not one increment above it.
--
| Tom Stangl, Technical Support Netscape Communications Corp
| Please do not associate my personal views with my employer
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Message has 1 Reply:
 | | Re: Proxy bidding mechanics questions...
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| (...) I hear you and I understand where you're coming from, especially since EveryAuction works this way, so that means both JABA and BRICKS do as well. But really, what's the big deal? If I want something to open at $1.00 I start it at $0.90 with a (...) (25 years ago, 7-Oct-99, to lugnet.market.theory)
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Message is in Reply To:
| | Re: Proxy bidding mechanics questions...
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| I had the same problem the other day, so I took a look at Todd's rules... I'd suggest that your item 2 is INCORRECT _because of_ item 3 - Rae's bid is $1.10 (hidden proxy $3.00)... Chris bids $2.00... system wants to apply Chris's bid at $1.20, but (...) (25 years ago, 4-Oct-99, to lugnet.market.theory)
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