An auction in which only one item is available for sale.
Procedures include English, Dutch, and sealed bid auctions.
When multiple units are sold in one auction, the auction is termed a multiunit auction.
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.