From the syllabus: �In approximately 5 pages, you will describe a historical or contemporary example of an auction, how it is conducted, and how it relates to the theoretical models and concepts that we have studied in class.� Here is some additional information.
TopicSome of the goods sold at auction include stamps, timber, fish, flowers, cars, art and wine, radio spectrum licenses, and abandoned storage units. They are used for procurement (these are sometimes called �reverse auctions�), for entertainment (Swoopo is one example of these �penny auctions�), and in takeovers of companies.
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