Dictionary :: Auctions

Glossary of game theory terms.

Bidding Increment

A bidding increment is defined by the auctioneer as the minimum amount above the previous bid that a new bid must be in order to be acceptable to the auctioneer. For example, if the increment is $5,000 and the current high bid is $70,000, only bids above $75,000 will be entertained.

updated: 12 August 2005
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