An Elementary Introduction to Auctions

Michael H. Rothkopf () and Sunju Park ()
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Michael H. Rothkopf: Rutgers Business School and RUTCOR, Rutgers University, 640 Bartholomew Road, Piscataway, New Jersey 08854-8003
Sunju Park: Rutgers Business School, Rutgers University, New Street, Newark, New Jersey 07102

Interfaces, 2001, vol. 31, issue 6, 83-97

Abstract: An auction designer faces many questions. Among the questions are what precisely is to be sold, who may bid, will there be multiple rounds of bidding, what kinds of payments will be made and which are biddable, how will the bids be compared, how will it be decided if a transaction occurs, how will the price be set, how will sales of multiple items be handled, and what information will be revealed and when. Different academic disciplines have contributed to answering these questions. In addition to OR/MS, these include engineering, economics, sociology, and computer science.

Keywords: GAMES/GROUP DECISIONS—BIDDING/AUCTIONS; DECISION ANALYSIS (search for similar items in EconPapers)
Date: 2001
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Citations: View citations in EconPapers (9)

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