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What gems/technology would be best suited for creating an auction style system where a certain action is run when a given duration of time has expired? (ie. sending an email message to users telling them the auction is over).
If you want real time notification I think resque_sceduler suites you. So you can schedule the task to send the email for the exact time the auction ends.
If there is no problem to wait some minutes or hours you can use cron jobs or something like that. There are many options actually.