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Dutch Bid Amount Computation
The bid amount in a Dutch auction is automatically computed over the duration of the auction using the following equation:
BA = ASP - [(CT - AST) / ATI] * BI
subject to the Auction Terminal Price (ATP) where:
If the bid increment (BI) is positive, then the price decreases; otherwise, the price increases. The bid amount is subject to two constraints:
- Availability of the items sold (for example, positive quantity)
- Bid amount is greater than the auction terminal price (case of BI > 0)
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Siebel eAuction Guide Published: 18 April 2003 |