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.
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English Auction
Price of item increases over time.
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Dutch Auction
Price of item decreases over time.
THE FOLLOWING AUCTIONS ARE ALMOST IDENTICAL
- 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.
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Second Price Auction
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Sealed-Bid Auction