A multiunit auction in which every winning bidder pays a different price which depends on the actual
bid placed by each winning participant.
Alternatively, a multiunit auction can be of uniform price in which all winning bidders pay the same amount.
updated: 12 August 2005
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.