Subject:
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Re: why eBay proxy bidding is broken
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Newsgroups:
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lugnet.market.theory
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Date:
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Sat, 16 Oct 1999 06:11:54 GMT
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Viewed:
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428 times
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Naji Norder (n.norder@computer.org) wrote:
> different answers to several questions. What do you (AFOLs) think:
>
> 1. Should a new bidder have to beat an existing proxy by the bid increment?
Yes. I haven't seen any disagreement on this one, except from e-bay. :/
> 2. Can a bidder retract/lower his/her proxy bid (given that FIRM bids
> cannot be retracted)?
No. Philosophically, AFAIC, a bid is a bid - proxy or not - and shouldn't
be retractable. There is also at least one practical problem with proxy
retraction: timing. What if someone submits a retraction but in the meantime
the proxy system has pushed their bid up (or above their new "minimum").
The auctioneer would presumably include a disclaimer saying that this might
happen and that the bidder will have to accept it, but then you're leaning
back toward not allowing retractions.
> 3. Can a bidder raise his/her proxy bid -without- rebidding on the lot?
I'd lean toward yes on this as a desirable feature, although with multiple
instances of the same lot you then run into the problem of differentiating
between a bid on a (potentially) additional instance vs. just raising the
proxy bid of a instance (and which instance?) you already have the high bid
on. This is a step away from the idea that you are bidding on n out of m
lots without differentiating among those lots.
> 4. In mulitple identical lots, should one person's proxies fight each other?
Yes. Again, proxy bidding is just an extension of regular bidding.
Steve
--
Barb & Steve Demlow | demlow@visi.com | www.visi.com/~demlow/
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Message has 1 Reply:
 | | Re: why eBay proxy bidding is broken
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| (...) I tend to say no. Part of a proxy is the notion of what TIME it was given. If I am at 30, have a proxy for 50 which I then raise to 70, it seems to me that the 50-70 part should not be stamped as having the same TIME as the earlier 30-50 part. (...) (25 years ago, 16-Oct-99, to lugnet.market.theory)
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Message is in Reply To:
| | Re: why eBay proxy bidding is broken
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| From a seller's standpoint, a proxy bid is not as powerful as a "FIRM" bid. A proxy is better than a minimum bid (with no proxy) though. High Firm Bid -------- | | (proxies in here somewhere) | | -------- Minimum Bid The question is, where should a (...) (25 years ago, 11-Oct-99, to lugnet.market.theory)
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