Dutch auction Concepts

The Library: A Fragile History

by Arthur Der Weduwen and Andrew Pettegree · 14 Oct 2021 · 457pp · 173,326 words

in the Augustan Age: Thomas Hearne, 1678–1735 (Bern: Peter Lang, 2000). 24. Cornelius à Beughem, Incunabula typographiae (Amsterdam: Joannes Wolters, 1688). 25. Otto Lankhorst, ‘Dutch auctions in the seventeenth and eighteenth centuries’, in Robin Myers, Michael Harris and Giles Mandelbrote (eds.), Under the Hammer: Book Auctions since the Seventeenth Century (New

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(Leiden: Brill, 2018), pp. 6–19. Hobson, Anthony, ‘A sale by candle in 1608’, The Library, 5th series, 26 (1971), pp. 215–33. Lankhorst, Otto, ‘Dutch auctions in the seventeenth and eighteenth centuries’, in Robin Myers, Michael Harris and Giles Mandelbrote (eds.), Under the Hammer: Book Auctions since the Seventeenth Century (New

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. 131–43. Kraye, Jill, and Paolo Sachet (eds.), The Afterlife of Aldus: Posthumous Fame, Collectors and the Book Trade (London: Warburg Institute, 2018). Lankhorst, Otto, ‘Dutch auctions in the seventeenth and eighteenth centuries’, in Robin Myers, Michael Harris and Giles Mandelbrote (eds.), Under the Hammer: Book Auctions since the Seventeenth Century (New

Networks, Crowds, and Markets: Reasoning About a Highly Connected World

by David Easley and Jon Kleinberg · 15 Nov 2010 · 1,535pp · 337,071 words

price. Oral auctions in which bidders shout out prices, or submit them electronically, are forms of ascending-bid auctions. 2. Descending-bid auctions, also called Dutch auctions. This is also an interactive auction format, in which the seller gradually lowers the price from some high initial value until the first moment when

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some bidder accepts and pays the current price. These auctions are called Dutch auctions because flowers have long been sold in the Netherlands using this procedure. 3. First-price sealed-bid auctions. In this kind of auction, bidders submit

Stigum's Money Market, 4E

by Marcia Stigum and Anthony Crescenzi · 9 Feb 2007 · 1,202pp · 424,886 words

sold to those dealers and investors who bid the lowest yields, that is, the lowest interest cost to the Treasury. These days, the Treasury conducts “Dutch” auctions, which are also known as “single-price” auctions, wherein all bidders are awarded the same price—the highest yield required to sell the entire amount

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a single-price format, which was first introduced in 1992 following several violations of auction rules in 1991. Single-price auctions are sometimes known as Dutch auctions. Empirical analysis of the auction format was compelling enough for the Treasury in 1998 to switch all its auctions to the single-price format. The

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securities. While benchmark bills are a component of the regular discount notes program, they are unlike discount notes in that they are issued via a Dutch-auction process using Web-based technology. As with discount notes, the benchmark bills program is conducted via securities dealers, and auction bids are obtained via the

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a single-price format, which was first introduced in 1992 following several violations of auction rules in 1991. Single-price auctions are sometimes known as Dutch auctions. Empirical analysis of the auction format was compelling enough for the Treasury in 1998 to switch all its auctions to the single-price format. • Until

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time to receipt of the payments thrown off by the instrument; the weights used are the present values of the future payments to be received. Dutch auction: Auction in which the lowest price necessary to sell the entire offering becomes the price at which all securities offered are sold. This technique is

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sentiment modified present value price sensitivity price value of an 01 term structure of interest rates uses yield value of 1/32 zero-coupon bonds Dutch auctions, Treasury securities ECN (see electronic communications networks) economic indicator, commercial paper economic uses, Treasury ECP (see Euro commercial paper) Edge Act corporations, BAs effective annual

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Treasury securities active market attraction to investors auction procedures benchmark status bidding systems bill auctions bills bond market bonds book-entry securities brokers debt absorption Dutch auctions ECN electronic trading expansion FICC flower bonds history IDB inflation-indexed securities interest rates marketable nonmarketable notes ownership primary dealers SEC secondary market settlement SLUGS

In the Plex: How Google Thinks, Works, and Shapes Our Lives

by Steven Levy · 12 Apr 2011 · 666pp · 181,495 words

questions. Even though Hambrecht was known as the pioneer of the auction-based IPO, it was Morgan Stanley that developed the technology to run the Dutch auction that would determine opening prices. Google wasn’t the easiest client. For one thing, it specified that the fees it would pay would be 2

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, using a team that included its chief economist, Hal Varian, and experts from academia. The company had come up with a way to implement a Dutch auction, in which the final bid—the amount paid by all winners—would be the lowest bid that would raise the required amount of money to

The Sushi Economy: Globalization and the Making of a Modern Delicacy

by Sasha Issenberg · 1 Jan 2007 · 534pp · 15,752 words

odiferous facsimile of a land-grant lecture hall—and look up at three large overhead screens. One item is up for bid on each by Dutch auction: Starting bids are set at approximately two dollars more than the anticipated sale price, and a red dot moves counterclockwise around a circle. Inside the

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ranched tuna devaluing of U.S. dollar “diamond of the ocean,” See also tuna diet craze and sushi Dingell, John diversification “Divine Principle,” Ducasse, Alain Dutch auctions “ecogastronomy,” economic indicator, sushi Edo-mae nigiri sushi eel Egypt fishing Empires of the Sky (Sampson) ethnic foods, California ethnic symmetry, image “exclusive economic zone

Algorithms to Live By: The Computer Science of Human Decisions

by Brian Christian and Tom Griffiths · 4 Apr 2016 · 523pp · 143,139 words

, because they’re shading their bids based on their prediction of yours! We are back in the land of recursion. Another classic auction format, the “Dutch auction” or “descending auction,” gradually lowers an item’s price until someone is willing to buy it. The name references the Aalsmeer Flower Auction, the largest

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flower auction in the world, which takes place daily in the Netherlands—but Dutch auctions are more prevalent than they might initially seem. A store marking down its unsold items, and landlords listing apartments at the highest price they think

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win it for just over $10 without either having to go all the way to $25 or disappearing down the strategic rabbit hole. Both the Dutch auction and English auction introduce an extra level of complexity when compared to a sealed-bid auction, however. They involve not only the private information that

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each bidder has but also the public flow of bidding behavior. (In a Dutch auction, it is the absence of a bid that reveals information, by making it clear that none of the other bidders value the item at the

The Inner Lives of Markets: How People Shape Them—And They Shape Us

by Tim Sullivan · 6 Jun 2016 · 252pp · 73,131 words

young well-to-do Babylonian women. (Descending price auctions are still in use today to sell flowers in Holland; as a result, they’re called Dutch auctions.) Auctioneers have experimented with all sorts of different rules and protocols over the centuries. There are Japanese auctions, reverse auctions, double auctions, continuous double auctions

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, 142–144 Douglas Aircraft Company, 25 Dow, Bob, 1–2 Dow, Edna, 1–2 Drèze, Jacques, 85–86 dumping toxic waste, transactions for, 167–169 Dutch auctions, 81–82 dysfunction, market, 36, 75–77, 143 eBay adverse selection on, 51–55, 57 auction listings, 94–97 concerns on model for, 43, 46

Aerotropolis

by John D. Kasarda and Greg Lindsay · 2 Jan 2009 · 603pp · 182,781 words

before returning to the task at hand. Just like that, the flowers are gone, sold before they’ve even left the room. The point of Dutch auctions is their speed. The Aalsmeer averages more than a thousand transactions per clock per hour—one every three seconds or so. There are five of

Reinventing the Bazaar: A Natural History of Markets

by John McMillan · 1 Jan 2002 · 350pp · 103,988 words

price, Hambrecht’s firm designed what it calls an open IPO, with an online auction of shares. The auction is a modified form of the Dutch auction, as used in the Aalsmeer flower market. Investors place bids for the number of shares they want to own and the price they want to

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, in which the bidders go on topping each others’ bids until only one wants to continue. An alternative way of running the bidding is the Dutch auction, used to sell flowers at Aalsmeer, in which the price starts high and falls until a bidder claims the item. Another is the sealed-bid

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eBay was there first, the network externality helps make its success self-perpetuating. Myriad auction mechanisms can be found on the various online auction sites. Dutch auctions are used to sell containers on oceangoing cargo vessels. Sealed-bid auctions are used for selling vacation time-shares. A few sites allow package bidding

The Armchair Economist: Economics and Everyday Life

by Steven E. Landsburg · 1 May 2012

auction. The most familiar is the common English auction, where bidders offer successively higher prices and drop out until only one remains. There is the Dutch auction, where an auctioneer calls out a very high price and successively lowers it until he receives an offer to buy. There is the first-price

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in advance of the auction, the seller can never know for certain on any given night whether an English auction is preferable to, say, a Dutch auction. Even to decide between a first-price and a second-price sealed bid auction can be difficult for the seller. On the one hand, in

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mentioned yield the same revenue to the seller on average over many auctions. If I regularly sell merchandise at English auctions, while you sell at Dutch auctions, your brother sells at first-price sealed bid auctions, your sister sells at second-price sealed bid auctions, and your crazy Uncle Fester sells at

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to introduce qualifications. We need not make long and ugly catalogues ("The English auction is superior under any of the following seven conditions, while the Dutch auction is superior under any of the following six other conditions . . ."). We can state our conclusion in no more than five words ("All rules are equally

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case that real-world auctioneers show marked preferences for some rules over others. Cattle and slaves have always been sold in English auctions, tulips in Dutch auctions, and oil drilling rights in sealed bid auctions. If all rules are equally good for the seller, why do sellers insist on one rule rather

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go high, they may reason that he knows something and decide to compete with him. A sealed bid auction precludes this outcome. So does a Dutch auction—by the time the high bidder reveals his enthusiasm, the auction is over. English auctions are by far the most common and appear to be

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assumption in the standard theory is that the population of bidders does not change when the rules 180 HOW MARKETS WORK change. In reality, a Dutch auction might draw an entirely different class of bidders than an English auction. Some future theorist will earn fame by figuring out how to incorporate this

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, 175-176 Discount coupons, at supermarkets, 161-162,165 Disneyland, 162 Diversification, 191 Dollar-cost averaging, 192-194 Donaldson, Sam, 141 Draft, military, 65-66 Dutch auction, 176-178 Earthquake insurance, 11 Eastwood, Clint, 33 Econometrics, 7-8, 212-213 Economics of toothbrushing, 9 Eddington, Sir Arthur, 203 Education price of, 162