answersLogoWhite

0


Best Answer

Different factors drive up bids in an auction experiment. Demand for the product is the main reason for the increase.

User Avatar

Wiki User

โˆ™ 2014-05-14 22:57:54
This answer is:
User Avatar
Study guides

Ecosystems

20 cards

An organism that eats other organism

What do mitochondrial and thylakoid membranes have in common

What is the term for any organism that obtains its energy by eating other organisms

What is the name of an organism that eats only plants

โžก๏ธ
See all cards
4.25
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
4 Reviews

Add your answer:

Earn +20 pts
Q: What drives bids up in an auction experiment?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about General Science

What is the hardest part in setting up an experiment?

The hardest part in setting up an experiment usually depends on the nature of the experiment. However, the most critical part of setting up an experiment is forming a testable hypothesis.


How do you start a science experiment?

You come up with a question, and then the purpose of the experiment is to try to answer the question. You should follow the scientific method to run your experiment correctly.


What type of experiment is one way to test a hypotheses?

Scientists test hypothesis by setting up an experiment. They choose a independent and a dependent variable and test the experiment.


What is a science experiment you can do on softball pitching?

An experiment that you can do is to focus on ur releasing point at the hip and see if it affects you if you have a crawzy wiind up, a jerky wiind up or a slow wiind up.


What does conclusion mean in science project?

In a science experiment you create or come up with a hypothisys or in other words you come up with a sugjested outcome of the experiment that you are doing. The hypothisys is the experimenters best edjucated guess of what the outcome of the experiment is going to be. After making your hypothisys, the experiment is then preformed. After the experiment is finished and the data is collected and analysed the outcome of the experiment is known. At that point in time the experimenter knows weather their hypothesis was correct or not and they can come to a conclusion for that specific experiment with all the data found while doing the experiment. So in short the conclusion of an experiment is the final outcome of all the data collected from doing the experiment.

Related questions

What drives bids up in auction experiments?

Different factors drive up bids in an auction experiment. Demand for the product is the main reason for the increase.


What occurs at an auto auction?

An auto auction is simply an auction which only includes automobiles. An automobile is put up for bid. Either an auctioneer notes the bids and people try to outbid each other at the same time, or written bids are placed in a container (this is called a silent auction).


How can you buy a horse on Auction on horseisle?

You bid for a while and who ever bids the most when the time is up wins the horse.


When is the auction on in animal crossing lets go to the city wii?

The auction house is always open and as soon as you put an item up for auction, it will start. However, this shop is the worst as nobody ever bids! It's such a waste of time.


How does one bid on a live auction?

There are several ways to bid on a live auction. It can be done verbally or by making a gesture. Some bids are made by holding up a placard with an identification number written on it.


What is the deffiniton on Penny Auction?

Penny auction is simply an online auction service where first of all you need to buy bids. So, this is a kind of prepaid service, first you buy bids, next, you can bid on auction of your choice.On good penny auction services you are allowed to buy only brand new products so you are sure you receive product in best available condition. Also there are services offering free shipping no matter where you live :)When you bid on single auction then usually it's price goes up for $0.01. So, this is not about increasing the price a lot, because 100 bids would change the price up for only $1. So, the potential of buying products for extremely cheap prices that way looks great. Especially when auction starts from $0.01!Each bid increases auction time and auction time may be as short as even thirty seconds! So, that's quite logical that auction time should be extended when someone bids on it.Maybe some practical example would put some lights on.Let's say you want to buy plasma TV, which retail price is $650. So, you buy 150 bids pack, which equals $74. On my website you can learn where you can buy bids for such low price ($0.66 per bid).OK., lets move on. Auction ends, you placed 100 bids, which is a lot for a single auction and usually it ends with max few bids per person - but let's make such example.Let's say you win that auction and you have to pay for your TV $42. For penny auctions this is quite normal price. Now, as you know, the retail price for that item is $650 and you did some investment - you bought bids pack for 74 dollars and you have to pay 42 dollars for TV, so you save $534! And such auctions are often finished in 20 - 30 minutes.


What is QuiBids?

QuiBids is an online penny auction site.It is different than other auction sites in the way that auctions are run. Each bid costs $0.60 and must be purchased in what QuiBids calls Bid Packs. Auction items are preset to increase in increments of either: 1, 2, 5, 10 or 20 for each user placed bid. Each time a user places a bid the timer resets to a maximum of 10-20 seconds. If no one else bids and the timer reaches zero, that person wins the auction. If you lose the auction you would be out the money you paid for each of your 60¢ bids placed during the auction. You may have the opportunity to use a feature QuiBids calls 'Buy it Now'. This allows you to purchase the item previously up for auction at the online retail price minus the cost of bids you placed during the items auction.BEWARE: Beginners are directed to a "Beginner Auction" where you bid on Bid Packs. Since most people in the auction lose, (only one winner per auction), they use the bids they purchased with their credit cards to purchase these Bid Packs at 60 cents each minus cost of their bids and a transaction fee. It appears that you can't lose, because the worst that can happen is that you wind up bying the bids for what you would normally pay anyway. The difference is that these bids have ZERO retail value and do NOT count towards the purchase of any other item for sale!I used my bids the first day buying more Bid-Packs and then the second day when I went to bid on an item, and lost the auction, I also lost my money since the Bid Packs I purchased in the Beginner Auction were worthless towards the purchase price.This place IS a scam. The promise that you'll never have to pay more than the retail price of an item is a lie. These "fake bids" they direct all the new users to in the Beginner Auction have zero retail value. No telling what they'll pull next!Note: It would be wise to learn more about QuiBids' bidding process before bidding. The QuiBids101 section also gives tips and suggestions on how to participate on their site.


Is Zeekler a scam?

No "ZEEKLER" is not a scam you can get "real" free bids & if you win you really get the items you win after you pay for them. If you win the auction of, lets say, a $300.00 item and the price you get the item for is $25.04 that is what you pay that for the item. Check it out and I will give you 50-100 bids for free to try it out. No strings and no obligation to buy more bids, just sign up is all. www.tbinnovate.zeekler.com


What sorts of products are put up for bids at Fowles Auctions?

The company Fowles Auctions auction a range of products. Generally, the company focuses on carpeting, flooring and timber products and items which are auctioned.


How do you put something up for auction on neopets?

Click on the item in your inventory. A screen should pop up. Click on the drop-down menu and click 'put up for auction'. Then choose how much you want to auction it for and how long the auction will last. Then click 'put up for auction'. A screen will come up saying 'are you sure you wish to do this?' Click Yes, then the item is in auction.


Is rapid bargain fake?

I personally think that it is a HUGE scam. I signed in wanting to buy an ipod and cannot believe quite how naiive I was thinking that it would actually work. Basically you buy bids, so for example 50 bids will cost you $40. You then use up these bids by bidding on an item you're interested in. I ended up spending $140 on bids to not actually win the item in question. If you don't win the item, your bids (ie. the $140 I spent on buying the bids) goes in a "bank account" against your name. So if you ever (!!!???!!!) actually win an auction, the value goes against the purchase of that item. This amount however is only valid for 30 days and so you have to win an auction in that time period or you lose your money. Of course, you can only win an item by buying yet more bids to bid on an auction. I don't see how you can ever win an item and use your old bid money to pay for it without still having money left in your bank account. Therefore you have to keep buying more and more bids to use the money that you've paid for previous bids you've bought where you haven't won the item. There are so many people bidding against each item, that the chances of you actually winning are (I believe) highly remote, so the company make a fortune, and I mean a FORTUNE out of anyone stupid enough to use their site (me!!). I bought the inital amount of bids which ran out very quickly and then I thought "oh well, if I don't keep bidding I'll have just wasted my money, so I'll buy some more bids". Of course, they want people to think that way so they can scam them out of their money. DON'T BE FOOLED!!!!


Is arrow outlet legitimate?

As far as I can tell they play games with math. You buy bids for 50 cents a piece and then each of those bids raises the price by 2 cents. So when something sells for 5 dollars that would be 250 bids at 2 cents. Each one of those bids is actually worth 50 cents so 250 bids times 50 cents a bid actually means the product sold for 125 dollars. Also, I don't think there is any way to guarantee that they don't have computers doing the bidding for them and then they always win the auction. Since you've paid for bids up front you lose money if you lose the auction. This site is a scam. They use fake bidders, it's in plain sight. The idea of "winning" an item so cheap blinds you from seeing the reality of what is going on. Before you even think about bidding, keep an eye on some of the names that pop up in the bidding wars, like NewMember12345,fghsjd111 ect. You bid on items and just when you are about to win, obviously fake names (like the ones I mentioned) show up and extend the bid and it just goes on and on and on. I fell for the scam, please learn from my mistake. The only thing you can win is more bids.

People also asked