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Aditya992000
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What is online auction? - Page 16 Empty Re: What is online auction?

Tue Jan 08, 2019 4:53 pm
price supplier. During a reverse auction, suppliers may submit multiple offers, usually as a response to competing suppliers’ offers, bidding down the price of a good
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Aditya992000
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Tue Jan 08, 2019 4:53 pm
or service to the lowest price they are willing to receive. By revealing the competing bids in real time to every participating supplier, reverse auctions promote
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Aditya992000
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Tue Jan 08, 2019 4:53 pm
information transparency”. This, coupled with the dynamic bidding process, improves the chances of reaching the fair market value of the item.[42]
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Aditya992000
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Tue Jan 08, 2019 4:53 pm
Senior auction is a variation on the all-pay auction, and has a defined loser in addition to the winner. The top two bidders must pay their full final bid amounts, and
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Aditya992000
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Tue Jan 08, 2019 4:53 pm
only the highest wins the auction. The intent is to make the high bidders bid above their upper limits. In the final rounds of bidding, when the current losing party has
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Aditya992000
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Tue Jan 08, 2019 4:54 pm
hit their maximum bid, they are encouraged to bid over their maximum (seen as a small loss) to avoid losing their maximum bid with no return (a very large loss)
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Aditya992000
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Silent auction is a variant of the English auction in which bids are written on a sheet of paper. At the predetermined end of the auction, the highest listed bidder
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Aditya992000
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Tue Jan 08, 2019 4:54 pm
wins the item.[43] This auction is often used in charity events, with many items auctioned simultaneously and "closed" at a common finish time.[43][44] The auction is
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Aditya992000
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"silent" in that there is no auctioneer selling individual items,[43] the bidders writing their bids on a bidding sheet often left on a table near the item.[45] At charity
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Aditya992000
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auctions, bid sheets usually have a fixed starting amount, predetermined bid increments, and a "guaranteed bid" amount which works the same as a "buy now"
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Aditya992000
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amount. Other variations of this type of auction may include sealed bids.[43] The highest bidder pays the price he or she submitted.[43]
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Aditya992000
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Top-up auction is a variation on the all-pay auction, primarily used for charity events. Losing bidders must pay the difference between their bid and the next lowest
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Aditya992000
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bid. The winning bidder pays the amount bid for the item, without top-up.
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Aditya992000
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Walrasian auction or Walrasian tâtonnement is an auction in which the auctioneer takes bids from both buyers and sellers in a market of multiple goods.[46] The
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Aditya992000
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Tue Jan 08, 2019 4:56 pm
auctioneer progressively either raises or drops the current proposed price depending on the bids of both buyers and sellers, the auction concluding when supply
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Aditya992000
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and demand exactly balance.[47] As a high price tends to dampen demand while a low price tends to increase demand, in theory there is a particular price
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Aditya992000
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somewhere in the middle where supply and demand will match.[46]
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Aditya992000
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Amsterdam auctions, a type of premium auction which begins as an English auction. Once only two bidders remain, each submits a sealed bid. The higher bidder
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Aditya992000
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Tue Jan 08, 2019 4:57 pm
wins, paying either the first or second price. Both finalists receive a premium: a proportion of the excess of the second price over the third price (at which English
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Aditya992000
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Tue Jan 08, 2019 4:57 pm
auction ended).[48]
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Aditya992000
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Tue Jan 08, 2019 4:57 pm
Other auctions: Other auction types also exist, such as Simultaneous Ascending Auction[49] Anglo-Dutch auction,[50] Private value auction,[51] Common value auction
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Aditya992000
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Tue Jan 08, 2019 4:58 pm
The range of auctions that take place is extremely wide and one can buy almost anything, from a house to an endowment policy and everything in-between. Some of
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Aditya992000
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Tue Jan 08, 2019 4:59 pm
the recent developments have been the use of the Internet both as a means of disseminating information about various auctions and as a vehicle for hosting auctions themselves.
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Aditya992000
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Here is a short description of the most common types of auction.

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Tue Jan 08, 2019 4:59 pm
Government, bankruptcy and general auctions are amongst the most common auctions to be found today. A government auction is simply an auction held on
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