Not technically an auction, but a posted-price procedure in which the auctioneer sets a price and
sells to the first bidder willing to pay it.
The auction ends as soon as a bidder agrees to pay the posted (fixed) price.
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.