Specifying Rules for Electronic Auctions

Peter R. Wurman, Michael P. Wellman, William E. Walsh


We examine the design space of auction mechanisms and identify three core activities that structure this space. Formal parameters qualifying the performance of core activities enable precise specification of auction rules. This specification constitutes an auction description language that can be used in the implementation of configurable marketplaces. The specification also provides a framework for organizing previous work and identifying new possibilities in auction design.

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DOI: https://doi.org/10.1609/aimag.v23i3.1653

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