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Auctions

Encyclopedia of Systems and Control

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Abstract

Auctions are procedures for selling one or more items to one or more bidders. Auctions induce games among the bidders, so notions of equilibrium from game theory can be applied to auctions. Auction theory aims to characterize and compare the equilibrium outcomes for different types of auctions. Combinatorial auctions arise when multiple-related items are sold simultaneously.

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Authors and Affiliations

  1. University of Illinois, Urbana, Illinois, USA

    Bruce Hajek

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  1. Bruce Hajek
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Correspondence to Bruce Hajek .

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Editors and Affiliations

  1. Electrical and Computer Engineering, Boston University, Boston, Massachusetts, USA

    John Baillieul

  2. Automation and Control Solutions, Honeywell, Golden Valley, Minnesota, USA

    Tariq Samad

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© 2013 Springer-Verlag London

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Hajek, B. (2013). Auctions. In: Baillieul, J., Samad, T. (eds) Encyclopedia of Systems and Control. Springer, London. https://doi.org/10.1007/978-1-4471-5102-9_36-1

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  • DOI: https://doi.org/10.1007/978-1-4471-5102-9_36-1

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  • Publisher Name: Springer, London

  • Online ISBN: 978-1-4471-5102-9

  • eBook Packages: Springer Reference EngineeringReference Module Computer Science and Engineering

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Chapter history

  1. Latest

    Auctions
    Published:
    24 July 2019

    DOI: https://doi.org/10.1007/978-1-4471-5102-9_36-2

  2. Original

    Auctions
    Published:
    19 August 2014

    DOI: https://doi.org/10.1007/978-1-4471-5102-9_36-1

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