English Auction
Description
English auction provides sequential rounds when bidders make bids by queue.
here)
States(more about states you can find-
pending
- state of waiting. That state uses to read basic information of auction. Any actions are not allowed. -
pre_round_pause
- state of waiting before first round. Here bidders can get acquainted with bids of opponents.
Any actions are not allowed. Bids legal names are hidden. -
sequential_round
- state of bids posting. Here bidders can post their bids. Any sequential round splitted into
sub-rounds, where every sub-round is queue of specific bidder. When bidder do any actions on his turn - no one else don't see any actions, until the round is end's. -
open_pause
- state of waiting. In that state you can see results of the previoussequential round
-
done
- results of auction
graph TD;
pending-->pre_round_pause;
pre_round_pause-->sequential_round;
subgraph "There is one more round"
sequential_round-->open_pause;
open_pause-->sequential_round;
end
subgraph "Last round has ended"
sequential_round-->done;
end
Bids logic
- Bidders can post bid only if his bid is >= bid + minimalStep.
minimalStep
- step of auction. Provides by procedure. - Sorting. Bids sorting by rule - highest bid and lowest datePublished. That mean winner will be with biggest bid
and lowest date published.