Forward auction
Forward auction are auctions, which can be used by sellers to sell their items to many potential buyers.[1][2][3][4] Sellers and buyers can be individuals, organizations etc.
Items are commonly placed at a special site for auction (e.g. eBay.com or marketdojo.com or opt-source.com). Buyers can continuously bid for the items they are interested in. Eventually the highest bidder wins the item.
Two types of forward auctions are common. The first is a liquidate auction. Here buyers seek to obtain the lowest price for an item they are interested in. The second type is a marketing efficiency auction. Buyers wish to obtain a unique item.
References
- ^ Turban, Efraim (2006). Information Technology Management: Transforming organizations in the digital economy. U.S.A.: John Wiley and Sons, Inc.
- ^ Ganguly, D.; Chakraborty, Samit (2008). "E Commerce - Forward and Reverse Auction - A Managerial Tool to Succeed over Business Competitiveness". 2008 Ninth ACIS International Conference on Software Engineering, Artificial Intelligence, Networking, and Parallel/Distributed Computing: 447–452. doi:10.1109/SNPD.2008.51. ISBN 978-0-7695-3263-9.
- ^ Preist, Chris; Bartolini, Claudio; Byde, Andrew (2003). "Agent-based service composition through simultaneous negotiation in forward and reverse auctions". EC '03: Proceedings of the 4th ACM Conference on Electronic Commerce: 55–63. doi:10.1145/779928.779936. ISBN 158113679X.
- ^ Friedrich, Michael; Ignatov, Dmitry (2019). "General Game Playing B-to-B Price Negotiations" (PDF). CEUR Workshop Proceedings. Vol-2479: 89–99.
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