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Dutch Auction Applet


Recent information

10-Aug-2002 Version 1.0.

A Dutch auction is characterized by its decreasing price mechanism. The auction starts at a relatively high price and repeatedly decreases the price until a “bid” is announced by one of the auction participants. The auction is then terminated and the bidder wins the auction. The Dutch auction got its name from the Dutch flower auction, where flowers are sold to traders.

This type of auction is also characterized by its speed. Usually the auctions are very short so that a lot of merchandise can be sold.

 

Our implementation of the Dutch auction adds some more functionality. The Dutch auction applet is an Internet based online Dutch auction based on an implementation that was created by: Ball,  J. (1997). Dutch Flower Auction Simulation Retrieved May 7, 2001, from http://www.batky-howell.com/~jb/auction/

 

The display is constructed of several sub-windows that present various pieces of data to the auction participant. The following figure is a screen shot from the auction:

 dutch.jpg (46064 bytes)

 

The clock

The upper left window display the remaining the current price in which the product is offered. The price decreases continuously. The price is also displayed in a textual field above the clock.

 

Activation buttons

The auction activation buttons are located just below the clock. Two buttons exist:

(1) Begin – This button gives indication to the system when the participant is ready to start an auction. This button is disabled while the auction is running and enabled again after the auction terminates.

 

(2) Bid – This button gives indication to the system when the participant places a bid. This button is activated after the auction begins and is disabled until the next auction begins.

 

The other participants

The competitors window is located below the activation buttons. This window displays the images of the other participants in the auction and their names.

 

Instruction

The blue line at the bottom left is the instruction line. It displays instructions.

 

Auction information

The upper middle area displays information about the current auction.

(1) Players – the total number of participants in this auction.

 

(2) Accumulated profit – the accumulated profit of the participant in the last auctions. A “profit” is the difference between the market value of the product and the price in which the participant buys the product in the auction. The profit is accumulated from the first auction to the last one.

(3) Auction number – the number of the current auction out of the total number of auctions planed.

 

Current auction winner

The middle window displays information about the winner in the current auction. The data is presented after the auction terminates:

(1) Value – the product market value.

(2) Profit – the profit of the current auction.

(3) Winning bid – the winning bid in the current auction.

(4) Winner – the picture and name of the winner in the current auction.

 

The product

The upper right window displays the product that is sold and it’s estimated market value.

 

The chat

The lower right window enables to chat with the other auction participants. In order to send a message, the participant needs to write a sentence in the appropriate window and to press the “send” button. All messages appears in the upper window and are identified according to the sender.

 

 

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This page is maintained by: Avi Noy
Last updated: 10-Aug-2002