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  • English Auction

Last edited by Vadym Tishchenko Mar 17, 2021
Page history

English Auction

English Auction

Description

English auction provides sequential rounds when bidders make bids by queue.

States(more about states you can find here)

  • 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 previous sequential 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.
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