Absolute auction, Game Theory

 

A general term for an English auction in which there is no reserve price, guaranteeing that the object will be sold to the highest bidder regardless of the quantity of the bid.

 

Posted Date: 7/21/2012 5:21:47 AM | Location : United States







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An auction during which bidders simultaneously submit bids to the auctioneer while not information of the number bid by different participants. Usually, the very best bidder (or lo