 | | Mechanics of proxy bidding?
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I'm trying to figure out how to do proxy bidding (with multiple instances of a lot). My current assumptions are: - Each instance of a lot stores the following information: the bidder, the max. proxy bid placed by that bidder, and the timestamp of (...) (25 years ago, 28-Oct-99, to lugnet.market.theory)
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| | Re: Mechanics of proxy bidding?
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(...) One thing you need to decide is if a proxy need only meet the bid which causes it to be re-submitted, or to beat it by a bid increment if possible. It looks like you're planning on the 2nd. The way I would be inclined to handle the situation (...) (25 years ago, 28-Oct-99, to lugnet.market.theory)
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| | Re: Mechanics of proxy bidding?
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(...) Yep, I should have been more clear about that: I am seeking to emulate the behavior of the AucZILLA software as closely as possible. So that means that proxy bidding will usually raise the price above the competing bid, not just match it. (...) (25 years ago, 30-Oct-99, to lugnet.market.theory)
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| | Re: Mechanics of proxy bidding?
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(...) It seems to me that if the assumption of how the proxy works is that a proxy will be raised to exceed any newer bid, then ALL proxy bids should be raised to at least that level, not just whichever proxy bid happens to be the one the step by (...) (25 years ago, 1-Nov-99, to lugnet.market.theory)
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