A uniform price auction is a multiunit auction in which every winning bidder pays the same price,
which may or may not be equal to the participants' bids.
Alternatively, a multiunit auction can be discriminatory in which winning bidders pay amounts depending on the amount
bids.
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.