Copyright 2008-12 32 Common Categories of Auction Sellers Markets: English Auction / Open Ascending Price Auction Dutch Auction / Open Descending Price Auction price runs down, first bid wins, forces a motivated buyer to bid early and high Sealed Bid Auction bids non-visible, time-limited, competition helps the organiser Balanced Markets: http://en.wikipedia.org/wiki/Auction http://en.wikipedia.org/wiki/Exchange_(organized_market)
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