Process: Manage Dutch auctions

Flow

Legend

Manage Dutch auctions

Objective

Dutch auctions trading mechanism.

Description

Dutch auctions do not require bidders to set the initial bid price. Instead, the user creating the auction announces a price and asks if any participants will accept it. Usually, the auction starts with a high bid price that is reduced over time until bidders have cleared the inventory.

Every auction is governed by a set of rules that the bidder must read before participating. Auction rules are established during auction creation and include aspects such as these:

If auction rules change during an auction, bidders must reread the rules before submitting or updating bids. Bids submitted prior to a rule change are not affected and may still win the bidding.

Features

Edition

Professional, Business, Express Edition

Subprocesses

Business artifacts

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