Eksempler på auctioneer

• Clients might not want their agents to reveal their private valuations to an external auctioneer as that information can be exploited.

• The auctioneer could thus ask for a higher price than the second highest bid (just below the highest bid) from the highest bidder.

• In such an economy, no trades take place until the auctioneer derives an equilibrium price.

• However, he considers an example of how an auctioneer creates a "temporary formula" by repeating a phrase (p. 62).

• In this economy, nominal wage and price decisions are taken not by an auctioneer but by economic agents.

• This result holds even when the market is regulated by the supreme hand of the auctioneer.

• There is no need for a central auctioneer.

• Thus, the auctioneer can only determine the order of bids and allocate the second highest bid to the winner.