Copyright © 1996, Agorics, Inc.
One of the best ways to allocate goods and/or resources is to sell them using free market techniques and ideas. An auction is an excellent method of distributing goods to those who value them most highly. Auctions, however, are far more complex than most people realize.
Kate Reynolds has developed a series of articles for Agorics, explaining different auction types and some of the issues important in determining whether to use auctions and, if so, which kind. What exactly is an auction? You may think you already know. Then again . . .
An Introduction to Auctions
The English Auction
The Dutch Auction
The First-Price, Sealed-Bid Auction
The Vickrey Auction
The Double Auction
Government Securities--the Scandal of '91
Auction Collusion and Tricks
Notice of Copyrighted Material:
Work presented here is copyrighted material belonging to Agorics, Inc. (Copyright © 1996, Agorics, Inc.) Agorics, Inc. reserves all copyrights. Agorics disclaims any warranty as to the utility, accuracy or effectiveness of the information contained in this document and specifically disclaims any liability for consequential damages that may result directly or indirectly from use of the information in this document.
Last updated: 2 August 2001