Skip to main content
  • 265 Accesses

Abstract

Why did the company for awarding the cafeteria construction project1 select a Dutch auction as negotiation form? It is not very easy for an auctioneer in individual cases to decide which of the four auction forms produces the best result. The Dutch auction essentially provides the same result as a first-price-sealed-bid auction, that is, the highest bid in the form “indifference price plus strategic margin”. On the other hand, a second-price-sealed-bid auction and an English auction are second-price auctions. They both provide the second-best indifference price as final result.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 99.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Hardcover Book
USD 129.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Authors

Copyright information

© 2015 Gregor Berz

About this chapter

Cite this chapter

Berz, G. (2015). Selection of an Auction Form. In: Game Theory Bargaining and Auction Strategies. Palgrave Macmillan, London. https://doi.org/10.1057/9781137475428_8

Download citation

Publish with us

Policies and ethics