On Sat, 12 Feb 2005, Jim Battle wrote:
> Vintage Computer Festival wrote:
>
> > On Sat, 12 Feb 2005, Jim Battle wrote:
> ...
> >>Of course, but that isn't the situation that started this thread. if
> >>one person with the intent to buy something is afraid he is getting in a
> >>bidding war with another bidder and makes side communication to affect
> >>the end price, that seems unfair to me.
> >
> > David was not asking to collude. He was just wondering who a particualr
> > buyer was because maybe he didn't want to get into a bidding war. Simply
> > stated, you cannot prevent a buyer from informing themselves in order to
> > maximize their outcome (in this case getting the item for the lowest
> > price). The seller is entitled to the highest price they can get for an
> > item. The buyer is entitled to the lowest price they can pay for an item.
> > Where they meet is the selling price.
>
> So shill bidding is OK then? he is just trying to maximize is price.
> nobody makes bidders bid more than they want. right? somewhere the
> logic has broken down.
See my reply to another message. This is a grapes & tomatos comparison.
--
Sellam Ismail Vintage Computer Festival
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Received on Sat Feb 12 2005 - 11:07:34 GMT