Mid and Final term discussion

Vickery withdrawal phase

Vickery withdrawal phase

by MATTEO FRANCESCHI -
Number of replies: 1

Hi,


In the Vickery auction, it's not clear when the withdrawal phase starts and end:

The text states: 

during the bid commitment phase (which last commitment phase length)...

during the bid withdrawal phase (which last withdrawal phase length)...

in the bid opening phase (which last bid opening length, starting from the block after the last block in which bids can be submitted)

So the withdrawal phase starts together with the commitment phase but ends before or after it and if it ends after the commitment phase it possibly ends after the opening phase.


Is this correct or we have to be sure that the withdrawal phase is less than the commitment phase or the withdrawal phase begins after the commitment phase and when it ends it starts the opening phase?


Matteo

In reply to MATTEO FRANCESCHI

Re: Vickery withdrawal phase

by ANDREA LISI -

Hi,

it should be an error in the text as discussed here: https://elearning.di.unipi.it/mod/forum/discuss.php?d=2575

The withdrawal phase should be in between the submission and the opening phases, to give the chances to someone to forfait the competition and get back half of their deposit. 

So the order is: Submissions -> Withdrawal -> Opening, and they should not overlap.
I hope to not be wrong. If I am, I will notify it.