Abstract
No doubt you are familiar with eBay. But are you also aware of quotatis. de or my-hammer.de? Individuals or even companies can announce their need for services there. Exactly as in eBay, those interested bid in an auction. However, this is a purchasing auction, that is, the winner of the auction provides a service and receives the offered price. The auctioneer1 buys this service and pays the price determined by the auction. While the auctioneer wants to get the highest price possible in a sale auction, for example, at eBay, it is exactly the opposite in a purchasing auction. The auctioneer wants to pay the lowest price possible.
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© 2015 Gregor Berz
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Berz, G. (2015). Auctions. In: Game Theory Bargaining and Auction Strategies. Palgrave Macmillan, London. https://doi.org/10.1057/9781137475428_3
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DOI: https://doi.org/10.1057/9781137475428_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-69293-4
Online ISBN: 978-1-137-47542-8
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)