Auctions

Gregor Berz

Chapter 2 in Game Theory Bargaining and Auction Strategies, 2015, pp 26-42 from Palgrave Macmillan

Abstract: Abstract No doubt you are familiar with eBay. But are you also aware of quotatis. de or my-hammer.de? Individuals or even companies can announce their need for services there. Exactly as in eBay, those interested bid in an auction. However, this is a purchasing auction, that is, the winner of the auction provides a service and receives the offered price. The auctioneer1 buys this service and pays the price determined by the auction. While the auctioneer wants to get the highest price possible in a sale auction, for example, at eBay, it is exactly the opposite in a purchasing auction. The auctioneer wants to pay the lowest price possible.

Keywords: English Auction; Auction Form; Auction House; Auction Theory; Indifference Price (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-47542-8_3

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DOI: 10.1057/9781137475428_3

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