0 a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each thing, until the thing is sold to the person who will pay most:
2 a usually public sale of goods or property, where people make higher and higher bids (= offers of money) for each item, until there are no higher bids and it is sold for the most money offered:
3 a public sale in which goods or property are sold to the person who offers the most money:
an internet/online/public auction You can bid for it in an online auction.
be up/come up/go up/be put up for auction One of the prints recently came up for auction in the United States.
hold an auction We held a charity auction in aid of the local hospital.
sell sth at auction The painting was sold at auction for €12 million.
When human or arti®cial agents negotiate in auctions they do not necessarily require speech acts and logic to carry out sophisticated transactions.
In such a model, each player controls a number of agents (for example, software agents) which participate in asynchronous parallel multi-agent interactions (for example, auctions).
The paper then discusses how different emission control instruments, including emissions taxes, auctioned emissions permits, and grandfathered emissions permits, provide incentives for innovation.
Other mechanisms have been proposed, including auctions of patents.
Such auctions are known to have taken place as far back as the 1830s, if not before.
Strategic game theory is best suited to contexts and applications where the rules of the game are precisely described, like elections, auctions, internet transactions.
Typical examples of complex distributed applications are social simulations, supply-chain management, electronic auctions, e-institutions, or business-to-business applications.
We particularly illustrated how auctions could be made secure and foster truth revelation on the part of bidders.
