Abstract and Keywords
This article gives some historical background on auctions and describes the different varieties of auction, such as English, Dutch, Japanese, candle, silent, sealed-bid, Vickery, and simultaneous ascending auctions. It summarizes the most important results from auction theory, including the optimality of the Vickery auction and the revelation principle. The article also describes some of the current topics in auction research, including approaches to combinatorial auctions.
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