What are the minimum and maximum bid change settings for and how do I set these up?

What are the minimum and maximum bid change settings for and how do I set these up?

What is the issue you're facing?

I need to setup a minumum and maximum bid change. What are these for and how do I set these up?

Solution

Minimum Bid Change
This is the smallest percentage price change that a participant can submit per bid in the Online Negotiation Event. It is used to keep the bids moving along at a steady pace.
For example if the latest bid by the participant is £10 and the Minimum Bid Change is 10% then the next bid submitted by that participant must differ by at least £1.

Maximum Bid Change
This is the largest percentage price change that a participant can submit per bid in the Online Negotiation Event. It is used to prevent mistakes and to encourage competition by keeping the participant bids closer together.
For example if the latest bid by the participant is £10 and the Maximum Bid Change is 50% then the next bid change submitted by that participant cannot exceed £5.

To set these up set the relvant percentages in the Maximum and Minimum Bid Change text fields.

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