What I learned from class:
Auction sniping is the process of watching a timed online auction (such as on eBay or Yahoo!), and placing a winning bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper. Sniping softwarea are software designed for the purpose. I also learned about some auction strategies such as english strategy, dutch strategy and so forth.
Relevant Article:
Auction Strategies
http://www.agorics.com/Library/Auctions/auction8.html
This is a very helpful article to learn more about auction strategies. Based on the experience of the mock auction on Monday, I can’t agree more with the author’s remarks. First, it is worth understanding the rules of an auction thoroughly. In fact, the one piece of information available to all is the rules. Buyers really do bid differently depending upon the rules of an auction. Second, a seller, on the one hand, is faced with choosing an auction type, and so he must predict the behavior of bidders. On the other hand, a bidder tries to predict the behavior of the other bidders. Each bidder makes an estimate of his own value of the object and also an estimate of what others will bid on it. Good bidding is often the result of correct predictions about the behavior of others and sometimes that means guessing the extent of someone else's information correctly.
Auction sniping is the process of watching a timed online auction (such as on eBay or Yahoo!), and placing a winning bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper. Sniping softwarea are software designed for the purpose. I also learned about some auction strategies such as english strategy, dutch strategy and so forth.
Relevant Article:
Auction Strategies
http://www.agorics.com/Library/Auctions/auction8.html
This is a very helpful article to learn more about auction strategies. Based on the experience of the mock auction on Monday, I can’t agree more with the author’s remarks. First, it is worth understanding the rules of an auction thoroughly. In fact, the one piece of information available to all is the rules. Buyers really do bid differently depending upon the rules of an auction. Second, a seller, on the one hand, is faced with choosing an auction type, and so he must predict the behavior of bidders. On the other hand, a bidder tries to predict the behavior of the other bidders. Each bidder makes an estimate of his own value of the object and also an estimate of what others will bid on it. Good bidding is often the result of correct predictions about the behavior of others and sometimes that means guessing the extent of someone else's information correctly.
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hintergrundbilder
lhej c ! ak 88
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