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In a lowest unique bid auction, the bidder who submitted the single bid of $0.06 would win the auction, and would be eligible to purchase the product or service for $0.06, because their bid was the lowest unique bid. In a highest unique bid auction, the bidder who submitted a bid of $0.09 would win the auction.
A uniform price auction otherwise known as a "clearing price auction", pay-as-clear [1] or marginal price auction, "marginal price system" (MPS), [2] is a multiunit auction in which a fixed number of identical units of a homogenous commodity are sold for the same price. Each bidder in the auction may submit (possibly multiple) bids, designating ...
A Demsetz auction is a system which awards an exclusive contract to the agent bidding the lowest price named after Harold Demsetz. [23] This is sometimes referred to "competition for the field." It is in contrast to "competition in the field," which calls for two or more agents to be granted the contract and provide the good or service ...
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. [ 1 ] [ 2 ] [ 3 ] Similar to in-person auctions, online auctions come in a variety of types , with different bidding and selling rules.
However, online auction sites, unlike live auctions, usually have an automatic bidding system which allows a bidder to enter their maximum acceptable bid. This is a hidden or proxy bid, known to the system, but not any other bidders; during the auction the actual bid is incremented only enough to beat the existing highest bid. For example, if ...
DealDash is a bidding fee auction website. It was founded in 2009, and is headquartered in Minneapolis, Minnesota, United States. [1] [2] [3]Users buy "bids", which are credits priced at 13 cents each, which increase the listed price of the item by 1 cent.