Multiunit auction
Encyclopedia
A multiunit auction is an auction
in which several items are sold. The units can be sold each at the same price (a uniform price auction
) or at different prices (a discriminatory price auction).
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...
in which several items are sold. The units can be sold each at the same price (a uniform price auction
Uniform price auction
A uniform price auction is a multiunit auction in which a fixed number of identical units of a commodity are sold for the same price. Each bidder in the auction bids a price and a quantity. The price bid is considered the maximum price they are willing to pay per item, and the quantity is the...
) or at different prices (a discriminatory price auction).