Minimum bid, Game Theory


A minimum bid is that the smallest acceptable bid in an auction. a gap bid, the primary bid placed within the auction, should be a minimum of as high because the minimum bid or the item remains unsold. not like a reserve worth, a minimum bid is usually known to the auction participants and canot amendment over the course of the auction.


Posted Date: 7/21/2012 4:32:30 AM | Location : United States

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A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.