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... |