Auction theory has its origins in field of economics. It is said to be an applied branch of the very same field. This theory considers the many ways people act in auctions. This theory also describes properties possessed by auction markets. An auction may follow a certain rule or set of multiple rules. Such sets of rules are known as auction designs. These designs are also a part of this particular theory. Auction theory is said to be a representation of a standard design for real life auctions. This theory particularly targets auction designs for public sector companies and the use of sale of license.
Reviews
There are no reviews yet.