There's no great urgency given the lack of L&FD assets at the moment, but I
didn't want to lose track of this.
tl;dr: I'm proposing to auction off items, and generally you'll have a week
to bid, then a week to pay.
[VCG auctions are the combinatorial generalization of the Vickrey auction.
Combinatorial auctions allow bidders to bid on various sets of items, not
just individually on items. For example, if three different stamps are up
for auction, a player could bid X spendies each, or Y spendies for all three
(for some Y != 3X).
Once these regulations are in place, I'm planning to draft a contract so
bidders can permit the Executor to act on eir behalf to pay winning bids.]
Draft Executor Administrative Regulations
E1: The Sweet Executive
I. The Executor SHALL use good faith in performing eir duties and exercising
eir powers
II. "Salvage assets" is a synonym for assets owned by the Lost and Found
Department
III. The Executor SHOULD initiate an auction for salvage assets at least
quarterly, unless there are no salvage assets. However, e SHOULD CONSIDER
delaying doing so in the event of 1) an ongoing or immediately pending
election for Executor; 2) a Holiday; 3) reasonable uncertainty as to which
assets are salvage assets; or 4) any other circumstances where delaying the
auction would be reasonable
E2: The Auction Process
I. The Executor CAN initiate an auction for salvage assets -- excluding any
that 1) are already subject to an ongoing auction or 2) were subject to a
prior auction and have a winning bid oustanding -- by announcement,
specifying the following:
A) the salvage assets up for auction
B) the bidding assets (including any applicable conversion rates between
different types of bidding assets)
C) the form of the auction
D) the time period to submit bids (the "bidding period")
E) the time period to satisfy winning bids (the "redemption period")
The bidding period begins immediately upon such a valid announcement and
lasts for the specified time period (subject to a minimum period of 5 days
and a maximum period of one month)
II. During an auction's bidding period, players may make a bid in that
auction by announcement. During an auction's bidding period, players may by
announcement retract a bid e previously made in that auction.
Valid bids must:
A) specify the asset (or set of assets) the bid applies to
B) specify the amount bid for such asset(s)
C) be from a player not in time out
Invalid bids have no effect.
A player CAN communicate multiple bids in a single statement or message if
done in a reasonably unambiguous manner.
III. In a timely fashion after the end of an auction's bidding period, the
Executor SHALL announce, for each winning bidder, the items won and the
resulting amount owed. Upon such announcement, each winning bid in that
auction becomes unpaid.
The redemption period begins immediately upon such a valid announcement and
lasts for the time period specified in the announcement that originally
initiated the auction (subject to a minimum period of 5 days and a maximum
period of one month)
IV. During an auction's redemption period, a winning bidder may make an
unpaid winning bid in that auction paid by destroying assets in eir
possession corresponding to the amount owed for that bid. In a timely
fashion after doing so, the Executor CAN and SHALL transfer the
corresponding items to the bidder; however, e NEED NOT do so for any items
the bidder is not eligible to own.
After an auction's redemption period ends, any remaining unpaid winning bids
in that auction are void, and the corresponding bidders are delinquent.
V. In a timely fashion after the end of an auction's redemption period, the
Executor CAN by announcement put any bidder who is delinquent in that
auction in time out for a specified period not to exceed to 4 months, and e
SHOULD do so unless the unpaid bid is due to circumstances out of the
control of and not reasonably foreseeable by the bidder. Examples of such
circumstances could include scams executed by others or previously unknown
defects discovered in the rules or the Executor's regulations.
E3: Auction Terms
I. The Executor SHOULD auction all salvage assets at once; however, e SHOULD
CONSIDER auctioning only a proper subset of them if the Lost and Found
Department owns an unusually large number of assets or multiple disparate
types of assets
II. The form of the auction SHOULD be a Vickrey–Clarke–Groves auction.
However, where that would be administratively challenging for bidders or the
Executor, the Executor SHOULD CONSIDER alternative forms of auction
(including running multiple separate Vickrey auctions)
III. The Executor is ENCOURAGED to set the bidding period and the redemption
period at one week each
IV. The Executor CAN resolve ties between bids as e sees fit and is
ENCOURAGED to do so in favor of the earliest unretracted bid
--
Mischief
Collar, Collector, Executor
Hat: sleeping cap
