On Tue, 8 Aug 2017, Alex Smith wrote:
We could do with an auction system that didn't incentivise everyone to
bid at the last moment. 6:18 am in the morning (local time) is not a
great time for timing scams.
The simple solution:
"Each auction ends seven days after it begins, or four days after no new
highest bid has been made, whichever is later."
However, this has the problem that someone might prolong it indefinitely,
possibly colluding to do so.
* Make the four days shrink to zero after a while (fourteen days?). This
avoids indefinite prolongment but has the obvious disadvantage that people
don't like less than four days to respond.
* Keep the four days, but force bids to increase (e.g. by 10 percent), and
have some limit on their size (possibly the Supply Level).