Auctions: A Closer Look
You’ve read about them, you’ve heard about them, you’ve probably participated in one. But what exactly are auctions? Isn’t it just the simple method of selling an object to interested people who bid until the highest bidder gets it?
That is definitely the scenario in most auctions. But auctions are actually more complex than people realize. Do you know that not all auctions have ascending price schemes? While the ascending bid is the most popular auction format, other formats exist such as the descending, simultaneous and handshake forms of bidding - read more...
