One can recognize a term but be confused by a statement in which the term is used and how it is relevant to the discussion. > Plenty of examples of open-bid as

One can recognize a term but be confused by a statement in which the term is used and how it is relevant to the discussion. > Plenty of examples of open-bid ascending-price auctions beating better systems due to familiarity, for instance. Yeah, I think we're talking past each other. I wasn't making a statement about "better" systems, and there are certainly other factors that can influence outcomes. I was only speaking of the principle that it is advantageous for an auction to be fair, and open-bid ascending-price auctions can be fair. I am quite certain that if you were to murder anyone who participates in a fair auction, then unfair auctions will be more successful, but that's outside the scope of the principle I'm speaking to.