Subject:
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Re: When is "Not an Auction" really an auction?
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Newsgroups:
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lugnet.market.theory
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Date:
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Thu, 2 Dec 1999 00:06:19 GMT
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Viewed:
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336 times
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In lugnet.market.theory, James Brown writes:
> [...]
> As an aside, I agree with Larry and Derrick. SRSB auctions are not
> something I think belongs in BST.
> In my brain, the fact that you don't know who your bidding against or how
> much they bid makes it no less an auction. OTOH, my brain has been wrong
> before.
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.
--Todd
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Message has 1 Reply:
 | | 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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Message is in Reply To:
| | 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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