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Some of these features include "Buy Now" and "Auto bidding". Sellers may choose to block the large proportion of members not "authenticated" from bidding. Only "authenticated" members can ask sellers questions. Members can become "authenticated" by using a credit/debit card on-site or depositing some money in their Trade Me account.
Auction sniping (also called bid sniping) is the practice, in a timed online auction, of placing a bid likely to exceed the current highest bid (which may be hidden) as late as possible—usually seconds before the end of the auction—giving other bidders no time to outbid the sniper.
Consider an auction where a set of identical products are being sold. Bidders can take part in the auction by announcing the maximum price they are willing to pay to receive N products. Each buyer is allowed to declare more than one bid, since its willingness-to-pay per unit might be different depending on the total number of units it receives ...
When the bidding for the round has concluded, round results are posted, which include the identities of the new bids and bidders along with the standing high bid and the corresponding bidder. The initial standing high bid at the start of an auction is zero ($0) and the corresponding bidder is the auctioneer.
A second attempt to auction the family home of Myanmar's imprisoned former leader Aung San Suu Kyi failed on Thursday after no bidders showed up, likely deterred by the court-ordered asking price ...
Given free disposal, each bidder's value is bounded below by zero. Without loss of generality, then, normalize the lowest possible value to zero. Because the game is symmetric, the optimal bidding function must be the same for all players. Call this optimal bidding function . Because each player's payoff is defined as their expected gain minus ...
AOL webmail is a free email service that is made possible by marketing ads. If you find the ads to be distracting, you can temporarily hide them and even give feedback on them. To do this, hover over the ad and click the "X" in the upper right corner. You'll be given the option to temporarily hide the ad or provide feedback on it.
Bidders have only estimates of the value of the good. If, on average, bidders are estimating correctly, the highest bid will tend to have been placed by someone who overestimated the good's value. This is an example of adverse selection, similar to the classic "lemons" example of Akerlof. Rational bidders will anticipate the adverse selection ...