Journal
EUROPEAN JOURNAL OF LAW AND ECONOMICS
Volume 33, Issue 1, Pages 47-50Publisher
SPRINGER
DOI: 10.1007/s10657-010-9163-1
Keywords
Lowest bid auction; Penny auction; Reverse auction
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Reverse auctions are a new type of auction which has recently spread over the internet to sell a large variety of goods, from electronics to airline tickets. The objective of this note is to illustrate how a reverse auction works, compare it to the other existing auctions and discuss the legal issues that may arise.
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