second price auction
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Sealed first-price auction — A sealed first price auction is a form of auction where bidders submit one bid in a concealed fashion. The submitted bids are then compared and the person with the highest bid wins the award, and pays the amount of his bid to the seller. This… … Wikipedia
Uniform price auction — A uniform price auction is a multiunit auction in which a fixed number of identical units of a commodity are sold for the same price. The buyers in the auction bid a maximum price p they are willing to pay per item, and the number of units they… … Wikipedia
Auction — Auctioneer redirects here. For the DC Comics supervillain, see Auctioneer (comics). An auctioneer and her assistants scan the crowd for bidders. An auction is a process of buying and selling goods or services by offering them up for bid, taking… … Wikipedia
Auction sniping — is the process of watching a timed online auction (such as on eBay), and placing a winning bid at the last possible moment (often seconds before the end of the auction), giving the other bidders no time to outbid the sniper. Some bidders do this… … Wikipedia
Auction theory — is an applied branch of game theory which deals with how people act in auction markets and researches the game theoretic properties of auction markets. There are many possible designs (or sets of rules) for an auction and typical issues studied… … Wikipedia
Dutch auction — 1957 in Germany to sell fruits A Dutch auction is a type of auction where the auctioneer begins with a high asking price which is lowered until some participant is willing to accept the auctioneer s price, or a predetermined reserve price (the… … Wikipedia
Vickrey auction — A Vickrey auction is a type of sealed bid auction, where bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins, but the price paid is the second highest bid. The auction was created by… … Wikipedia
auction — A method of sale in which goods, securities, rights, etc. are sold in public to the highest bidder. Auctions are used for any property for which there are likely to be a number of competing buyers, such as houses, second hand and antique… … Big dictionary of business and management
price — A fixed value of something. Prices are usually expressed in monetary terms. In a free market, prices are set as a result of the interaction of supply and demand in a market; when demand for a product increases and supply remains constant, the… … Financial and business terms
Second Stadtholderless Period — The Second Stadtholderless Period or Era ( nl. Tweede Stadhouderloze Tijdperk) is the designation in Dutch historiography of the period between the death of stadtholder William III on March 19 [This is the date from the Gregorian calendar that… … Wikipedia
English auction — An English auction is a type of auction, whose most typical form[clarification needed] is the open outcry auction. The auctioneer opens the auction by announcing a Suggested Opening Bid, a starting price or reserve for the item on sale and then… … Wikipedia
