A Systematic Literature Review on Auction Mechanisms: Insights From the Last Decade and Future Directions

Alberto Michele Felicetti, Martina Luzzi, Salvatore Ammirato and Francesca Guerriero

Journal of Economic Surveys, 2025, vol. 39, issue 5, 1971-1998

Abstract: This study reports the results of a systematic literature review on auctions mechanism. Auctions are a very popular practice employed in many fields but does not exist a research that investigates the use of auctions under a cross‐disciplinary approach. This work is focused on analyzing which are the areas where auctions are mostly adopted and what are the techniques used to solve auction‐related problems. Referring to the publications from 2013 to 2024 and using the latent Dirichlet allocation (LDA) algorithm, three main topics related to auctions research are identified and widely explained. In addition, an auction classification scheme in which auction characteristics are classified along 10 different directions is developed and presented. The scheme is useful for understanding the auction building process, especially for those who approach the study of auctions. Promising future research directions on this subject are provided.

Date: 2025
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