This option is used to create different outcomes for the rank if two or more participants submit the same bid.
- Equal worst position - The participants will be placed into the equal worst position on submission of the same bid. For example, if the two leading participants both submit the same bid, they will each be given a position of 2, so they will both know that they need to improve.
- Equal best position - The participants will be placed into the equal best position on submission of the same bid. For example, if the two leading participants both submit the same bid, they will each be given a position of 1. This is technically correct although it might not encourage further bidding.
- Separated by timestamp - The participants will be given different ranks on submission of the same bid based on the time their bid was received by the Market Dojo server. For example if Participant A submits a leading bid at 10:40 am and Participant B submits the same leading bid at 10:41 am then Participant A will be given the rank of 1 and Participant B the rank of 2.
Once you have everything set as you would like you can press the Save and go to Next Step button in the bottom right hand corner to continue setting up your event.
Note that when you are setting up your lots if you are using the Japanese auction type then your lots must include a qualification price.
When a supplier inputs a bid, if their bid does not beat the qualification criteria they will be prevented from bidding until they input a bid that meets this.
To add a qualification price in a Simple Lot
As you are adding your lots in Simple Lots you will see a field where you can enter your qualification price for the lot.
To add a qualification price in an Advanced Lot
Once you have built your lots, or as you are building them click on the Enter Info button on a participant entered price cell.
You can then enter your qualification price here and then press Save.