THE AGORA NOMIC CODE OF REGULATIONS
These ACORNs are also online at http://agoranomic.org/ruleset/
Date of this ACORN: 18 Jun 2021
Table of Contents:
Auction Regulations
* Regulation AM0: Generalized Auction
* Regulation AM1: Forward Auctions
* Regulation AM2: Sealed-bid Auctions
* Regulation AM3: Second-price Auctions
* Regulation AM4: Nonwinning-price Auctions
* Regulation AM5: Selective-bid Auctions
Administrative Regulations
* Regulation PA0: Certification
* Regulation PA1: Proposal Style Guide
* Regulation RA0: Limitations to Powers of Interim Referees
* Regulation RA1: General Enforcement Policies
* Regulation RA2: Guidelines to Referees for Compiling Weekly Reports
* Regulation RA3: Holiday Rule Reminder Practice
Auction Regulations
This section has the regulations, written by the Treasuror, governing
how auctions proceed.
Regulation AM0/2
Generalized Auction
Generalized auctions exist to give context to the form of other
types of auctions. They CANNOT be held directly. Other auction
methods that use this type of auction as a starting point can
override attributes of generalized auctions except when it is
explicitly stated that that attribute is not able to be
overridden.
INITIATION: When a person CAN begin an auction by this or any
derivative method, e CAN only do so by specifying the type of
auction method to be held, a list of lots to be auctioned off, and
the currency for the auction in a public message (henceforth the
"initiation message"). The bidding period starts at this point.
BIDDING: Players CAN place a bid on an auction in its bidding
period by creating a public message (henceforth a "bid message")
specifying a number of the auction's currency as eir bid not equal
to the bid of another player. Players CAN withdraw from an open
auction by announcement.
TERMINATION: The bidding period ends four days after the final
instance of any of the following events' occurance:
* the auction begins
* a bid is placed
* a player withdraws from the auction
RETRIEVAL: When the bidding period ends, the retrieval period
begins. During the retrieval period, bidders will be allowed to
retrieve the assets required to pay for their bid. The retrieval
period lasts three days. Failing to have the requisite assets when
the retrieval period for an auction ends constitutes the Class 1
Crime of Underfundedness.
AWARDING: For each auction, there are a number of awardees equal
to the number of lots. The Nth lot of an auction goes to the Nth
awardee of that auction. If the identity of an awardee is
undecidable, then that lot cannot be given away. Auction methods
specify how awardees are picked for auctions using that method.
PAYMENT AMOUNT: The amount that an awardee in an auction is
required to pay for eir lot is, unless otherwise specified, the
amount of the auction's curency specified in eir highest bid on
that auction.
FUNDED PLAYERS: Derivative auction methods should ensure that only
players who, at the end of an auction's retrieval period, have at
least as much of that auction's currency as the amount that e is
required to pay in that auction (hereafter "funded players") can
be selected as awardees for auctions using that auction method.
DISTRIBUTION: The auctioneer for an auction CAN and SHALL, within
seven days of the ending of that auction's retrieval period,
create a public message (henceforth the "distribution message")
that contains a full history of bids on the auction and
withdrawals from the auction. It must also clearly indicate each
awardee and the lot e recieves. In this message, the auctioneer
CAN and SHALL destroy the amount to be paid from the inventory
each awardee and transfer to that player (or create in eir
possession if the item is new) the set of assets associated with
the lot e won. Failing to publish a distribution message
constitutes the Class 3 Crime of Auction Abandonment.
ACTIVE BIDS: The set of active bids for an auction is the set of
all funded, non-withdrawn players' highest bids on that auction.
History:
Enacted by Trigon, 08 Aug 2020
Amended(1) by Trigon, 28 Mar 2021
Amended(2) by Trigon, 05 May 2021
Annotations:
Regulation AM1/1
Forward Auctions
Forward auctions
