Participants in a marketplace are always trying to maximize their own outcomes and gain an edge. One way is to be strategic with the timing of transactions. Maybe you open up shop before your competitors are even awake, or maybe you're sure to be the last one to slip your bid in before the auction closes. 

Unfortunately, these techniques rarely remain a secret, and a little rule-bending on the part of a few can quickly escalate to complete market failure for everyone.Watch this video to prevent your markets from unraveling. 

This video answers questions like:
-Should sniping be allowed on Ebay?
-Why isn't the NYSE open 24 hours?
-What is an exploding offer?

I learned all of this stuff from Nobel Prize Winning Economist Al Roth's book, available here:
https://www.amazon.ca/Who-Gets-What-Economics-Matchmaking/dp/0544291131?ie=UTF8&camp=15121&creative=390961&creativeASIN=0544291131&linkCode=as2&redirect=true&ref_=as_li_ss_tl&tag=networkextern-20