Subject:
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Re: which threads, ethics (was: Re: Mini Auction - 6273 - Rock Island Refuge)
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Newsgroups:
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lugnet.off-topic.debate
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Date:
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Sun, 14 Mar 1999 20:46:59 GMT
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Viewed:
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1132 times
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In lugnet.off-topic.debate, sls@jane-villa.demon.co.uk (Steve Scott)
writes:
> [...]
> If standard auctions were restricted (by ruling or agreed etiquette) to a
> single seller, then the problem could not arise. This is what I'm hoping
> will evolve from discussions.
Steve, could you go into a bit more detail here? I don't understand what
you mean by restricting auctions to a single seller. Do you mean
restricting auction threads to a single poster (the seller)?
> Conversely, in the case of a reverse
> auction - let's take Todd's orange buckets as an example:
>
> Todd is close to reaching the lowest likely seller price when I "parasite"
> him and post on "his" thread that I will buy the buckets at a higher price.
> The reverse auction is hijacked, it turns into a standard auction with Todd
> and I bidding against each other with the likely exclusion of all but one of
> the sellers. It is also feasible that the sellers would try to outbid each
> other for the attention of the two (or who knows even more) buyers. End
> result - chaos!
Chaos maybe in terms of sifting through the sea of data and bids, but
heck, this sort of situation is really quite natural. On the one side you
have multiple buyers competing against each other over a finite supply,
and other the other side you have multiple sellers competing against each
other over a finite demand. The more buyers you have, the higher the
price climbs. The more sellers you have, the lower the price descends.
Someday here we'll have buy and sell orders just like the stock market.
It'll be so chaotic that it won't even seem chaotic anymore.
--Todd
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