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title: Auction Theory
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# Auction Theory

Auction theory is a subset of [[game-theory]]

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#### Reverse Auction

In a reverse auction,
bidders compete for the right to _sell_ a product or service.

#### Sealed-Bid Auction

Opposite of a conventional "open" auction,
in a sealed-bid auction,
bid prices are hidden from the bidders.

[[uncertainty#Information]]

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