A common term for an English auction in which there is no reserve price,
guaranteeing that the object will be sold to the highest bidder regardless of the amount of the bid.
created: 24 January 2007
HOW TO CITE THIS ENTRY
- To learn more:
- See news articles on auctions.
- Try a winner's curse applet on the applets page.
- Read about auction experiments at e-Economics.net.
- Learn about auctions by reading lecture notes.