Klarinet Archive - Posting 000062.txt from 2002/05

From: "Joseph H. Fasel" <jhf@-----.gov>
Subj: Re: [kl] Bad behavior on eBay auctions
Date: Thu, 2 May 2002 23:29:18 -0400

Fred,

I guess what you're really asking for is a sealed-bid auction, which I
agree would be a reasonable option. There would simply be a deadline
for submitting bids, which would not be revealed to anyone before the
deadline, at which time, the high bid (if it meets the reserve) wins.
In fact, there would be no need for a secret reserve price. The seller
just says, "Give me sealed bids of at least $1000 by noon Monday."

Cheers,
--Joe

On 2002.05.02 13:44 fred.sheim wrote:
> Well, get your darts ready, but I ALWAYS snipe at the auctions I bid on. If
> I were to bid early, it just would give someone else the chance to one up
> me and raise the price. I don't see any point in a bidding tit for tat
> over and over just to raise the price for the eventual winner. I bid my
> absolute max in the last second of the auction, and if I win, I win, and if
> I don't, I am not disappointed because I bid my absolute max. And of
> course its fair. The other guy could do it too. Actually, if EVERYBODY
> did it, then the highest bid would win in one quick final second, just like
> in a real auction. Very clean.
>
> OK, shoot.

Joseph H. Fasel, Ph.D. email: jhf@-----.gov
Decision Modeling and Analysis phone: +1 505 667 7158
University of California fax: +1 505 667 2960
Los Alamos National Laboratory post: D-7 MS F609; Los Alamos, NM 87545

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