What follows is my first earnest attempt to rework the current auction
regulations. I think that the formatting makes it easier to read. New
mechanics for punishment are also added, and terminology has been changed.
I am not totally sure what I think of them, but I think they are at
least somewhat better mechanically if not textually than my previous
versions. I may have made them too long, though I did try to trim the
fat where it wasn't necessary.
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Regulation AM0/1
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.
Derivative auction methods cannot specify the exclusion from a
public message of any information that a parent auction method
requires in that message.
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 either the
beginning of the auction or the most recent bid was placed,
whichever is later.
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 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 in that auction.
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Regulation AM1/0
Forward Auctions
Forward auctions function like generalized auctions except:
* The Nth awardee for a forward auction is the player who
submitted the Nth-highest active bid in that auction.
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Regulation AM2/0
Sealed-bid Auctions
Sealed-bid auctions function like generalized auctions except:
* Players can only submit bids on a sealed-bid auction if they do
not have a bid in that auction.
* Bids must be initially hidden so that it is impossible to tell
its value but that it is verifiable that the amount bid was
decided before the bid was placed. Anything that claims to be a
bid and fits these conditions is considered a bid.
* The retrieval period for a sealed-bid auction lasts for seven
days.
* Each player SHALL reveal eir bid amount on a sealed-bid auction
while the auction is in its retrieval period. Failing to do so
is the Class 2 Crime of Potential Faking.
* The termination message need not indicate any bids for which the
amount bid is not known.
* The Nth awardee of a sealed-bid auction is the player whose bid
is the Nth-highest active bid in that auction.
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Regulation AM3/0
Second-price Auctions
Second-price auctions function like forward auctions except:
* The amount to be paid by the Nth awardee is the amount of the
auction's currency specified by the (N-1)th highest active bid
on that auction or the lowest active bid if such a value does
not exist.
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Regulation AM4/0
Nonwinning-price Auctions
Nonwinning-price auctions function like forward auctions except:
* The amount to by paid by all awardees is the amount of the
auction's currency specified by the highest active bid on that
auction not placed by an awardee or the lowest active bid if
such a value does not exist.
------------------------------------------------------------------------
Regulation AM5/0
Selective-bid Auctions
Selective-bit auctions function like generalized auctions except:
* Bidding messages on a selective-bid auction must also specify a
lot that is preferred.
* The Nth awardee of a selective-bid auction is the player who
placed the highest active bid whose preferred bid is the Nth
lot.
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--
Trigon
¸¸.•*¨*• Play AGORA QUEST
I’m always happy to become a party to contracts.
I LOVE SPAGHETTI
transfer Jason one coin
nch was here
I hereby
don't... trust... the dragon...
don't... trust... the dragon...
Do not Construe Jason's message with subject TRIGON as extending this
