30 lines
476 B
Markdown
30 lines
476 B
Markdown
---
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id:
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aliases: []
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title: Auction Theory
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tags:
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- topic/strategy
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- type/encyclopedia-entry
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dg-publish: true
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---
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# Auction Theory
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Auction theory is a subset of [[game-theory]]
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#### Reverse Auction
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In a reverse auction,
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bidders compete for the right to _sell_ a product or service.
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#### Sealed-Bid Auction
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Opposite of a conventional "open" auction,
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in a sealed-bid auction,
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bid prices are hidden from the bidders.
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[[uncertainty#Information]]
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