Auction-Types

Purpose of this repo

This repo is a compilation of code snippets for different auction types

This code is other developers work, unless otherwise stated.

I am in no way claiming this to be my work. It is simply a reference for me to use in the effort of saving time.

From these code snippets I am working on a new multi faceted auction strategy.

Types of Auction

1. English Auction

   Price of item increases over time.

2. Dutch Auction

   Price of item decreases over time.

THE FOLLOWING AUCTIONS ARE ALMOST IDENTICAL

3. Vickery Auction (Second-Price Sealed Bid Auction)

Bidders submit written bids without knowing the bid of the other people in the auction. The highest bidder wins but the price paid is the second-highest bid. This incentivises people to bid their true value.

4. Second Price Auction

5. Sealed-Bid Auction