 | | Re: When is "Not an Auction" really an auction?
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(...) Really? That's weird - Todd's a really smart guy. How could he be dead wrong on this issue? (25 years ago, 1-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) He's not dead wrong, he's decided otherwise. For an insight into his logic, see: (URL) gives some of his points. I know he's made others, but I couldn't find them easily. As an aside, I agree with Larry and Derrick. SRSB auctions are not (...) (25 years ago, 1-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) A sealed-bid auction is a *DEGENERATE CASE* of an auction. They're only known as "auctions" because some bozo once upon a time many years ago called them auctions. The spirit of an auction is to solicit bids and use those bids in turn to (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) When you see an OBO in the newspaper and you call someone up and make an offer, you don't know who you're competing against either. OBO's are "sealed bid auctions" too. They're the same thing. But they're actually not auctions in spirit. (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) If you insist. :) But to me, an auction is anything where the final price is determined by 1 seller and multiple (potential) buyers. So, yes, OBO's and SB auctions are the same thing. Auctions. <grin, duck> The difference to me is as much one (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) So ticket scalping in the back parket lot is an auction? Selling a 20-gallon aquarium at a garage sale is an auction? An stock market IPO is an auction? Those are all things where the final price is determined by 1 seller and multiple (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) I would agree with this for a single-time sale. But for multiple items (like a securities auction, which is something I've learned a little bit about in the last year) sealed-bid auctions are perfectly reasonable for some types of (...) (25 years ago, 2-Dec-99, to lugnet.market.theory)
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| | Re: When is "Not an Auction" really an auction?
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(...) The gray gets grayer -- and, if I'm understand you correctly, then -- WOW. So (this is a question) there are types of sales in which each sale in an of itself isn't really an auction (because people aren't competing and counter-bidding), but (...) (25 years ago, 3-Dec-99, to lugnet.market.theory)
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