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Handbook > Auctions Printer Friendly


Auction comes from the rootword "auctio" which literally means "increase". Auctions have existed for centuries. You might be pleasantly surprised by earlier forms and descriptions of auctions. The section below on the history of auctions can probably satisfy some of your historical curiosities. Auctions are especially useful for the sale of a commodity of undetermined value. So if a seller is unsure of the price he can get then auctions are particularly useful. Think of a work of art, which different people would value differently; while a personal collector would value it as another jewel in his crown, the state museum curator would value it in a different manner. An auction often ensures that the object goes to the person who values it the most.

  • A brief history of auctions - A brief history of the origin of auctions

  • Basics - A beginner's introduction to auctions

  • Useful concepts in Auction Theory - Discussion of frequently mentioned concepts in Auction Theory

  • Common types of auctions - Discussion of the different types of auctions

  • Auction Experiments - Discussions of some of the experimental tests of auction theory

  • Cataloged resources - additional online content relating to auctions

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