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Hybrid Auctions I: Theory

Dutra, Joisa C; Menezes, Flavio


In this paper we examine the properties of a hybrid auction that combines a sealed bid and an ascending auction. In this auction, each bidder submits a sealed bid. Once the highest bid is known, the bidder who submitted it is declared the winner if her bid is higher than the second highest by more than a predetermined amount or percentage. If at least one more bidder submitted a bid sufficiently close to the highest bid (that is, if the difference between this bid and the highest bid is smaller...[Show more]

CollectionsANU Research Publications
Date published: 2001
Type: Working/Technical Paper


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