Title: Theory / Unimportant / Human / Economics / Auction

Name: English auction
Definition: A starting price is set. The price is only increasing. Bidders can state a price. Successivily, one state a price, the last bidder pays the last price
Page: https://en.wikipedia.org/wiki/Auction#Types
Variables: o an object
Name2: open ascending price auction

Name: Dutch auction
Definition: A starting price is set by unity. The seller offer \(n\) unity.
Seller decrease the prise until someone want to buy some \(n_i\) unities for the last stated price.
This goes on until reserve price is seen, or \(\sum_in_i=n\). The first seller choose its \(n_1\)'s unities, and so on.
Page: https://en.wikipedia.org/wiki/Auction#Types
Variables: o an object
Name2: open descending price auction

Name: Sealed first-price auction
Definition: Each bidder give a single bid, in a sealed envelop. Then each envelop is open, and the biggest winner win and pay the price he gave
Page: https://en.wikipedia.org/wiki/Auction#Types
Variables: o an object
Example: Governemental contract
Name2: first-price sealed-bid auction
Name3: Blind auction
Abbreviation2: FPSB

Name: Vickrey auction
Definition: Each bidder give a single bid, in a sealed envelop. Then each envelop is open, and the biggest winner win, paying the price of the second highest bid
Page: https://en.wikipedia.org/wiki/Auction#Types
Variables: o an object
Name2: Sealed-bid second-price auction

Name: Multiunit auction
Definition: An auction in which multiple identical product are sold using the same auction
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: All-pay auction
Definition: Action in which everyone pay what they bid, independtly of whether they won
Page: https://en.wikipedia.org/wiki/Auction#Types
Example: Running race
Example2: Lobbying/bribery

Name: Auction by the candle
Definition: English option where bidding halts when a candle goes out
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Bidding fee auction
Definition: An auction where there is a fee to pay for each bid
Page: https://en.wikipedia.org/wiki/Auction#Types

Question: What's the main difference of bidding fee auction
Answer: The winner pay less than in other auctions. Probably because the seller is also paid by the fee of the other players and can have a lower reserve price
Page: https://en.wikipedia.org/wiki/Auction#Types

Question: What's the main interest of all-pay auction
Answer: Mostly academic interest
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Buyout auction
Definition: An auction in which there is a price that, if anyone accept to pay it, they win the auction immediatly.
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Combinatorial auction
Definition: An auction in which a bid can be for multiple items, and is due only if all of those items are won by this bid
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Japanese auction
Definition: Similar to english auction, but each bidder bids in turn. At their turn, they must either bid higher or drop out
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Mystery auction
Definition: Auction for box whose content is not specified or under specified
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: No-reserve auction
Definition: Auction in which the sell is done independently of the price reached
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Reserve auction
Definition: Auction in which the sell is done only if the price is higher than a minimum set by the seller
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Senior auction
Definition: English auction, in which the two highest bid pay, but only the highest one wins
Page: https://en.wikipedia.org/wiki/Auction#Types
Intuition: Let \(n\) the max price at which the second bidder want to buy the object and the first bidded \(n+1\).
Then the second bidde will bid \(n+2\) and lose \(2\$\) instead of losing \(n\$\)

Name: Silent auction
Definition: English auction in which bids are written instead of spoken.
Page: https://en.wikipedia.org/wiki/Auction#Types
Intuition: Allow to bid simultaneously on many different object

Name: Top-up auction
Definition: English auction, in which the \(n\)-th highest bidder, for \(n>1\), pays the difference between their bid and the \(n+1\)-th bid
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Walrasian auction
Definition: An auctionner takes bids from sellers and buyers for many items. Seller decrease price, buyer increase, until the two give the same number, where a sale is made
Page: https://en.wikipedia.org/wiki/Auction#Types
Name2: Walrasian tâtonnement

Name: Amsterdam auction
Definition: An english auction. When two bidders remains, it become a sealed bid
Page: https://en.wikipedia.org/wiki/Auction#Types

Name: Generalized second-price auction
Definition: When \(n\) objects are sold, in a fixed order of interest. The highest bidder pay the price of the second biggest bid, and so on
Page: https://en.wikipedia.org/wiki/Generalized_second-price_auction
Example: Ad words

Name: Generalized first-price auction
Definition: When \(n\) objects are sold, in a fixed order of interest. The \(i\)-th highest bidder get the \(i\)-th object
Page: https://en.wikipedia.org/wiki/Generalized_second-price_auction

Name: Lowest unique bid auction
Definition: An auction in which the winner is the lowest bid which no one else also give.
Page: https://en.wikipedia.org/wiki/Generalized_second-price_auction
Intuition: Ususally, there is a fee to pay for bidding

Name: Spectrum auction
Definition: An auction in which the government sell some limited resource
Page: https://en.wikipedia.org/wiki/Spectrum_auction
Etymology: electromagnetic spectrum