Forward auction explained

Forward auction are auctions, which can be used by sellers to sell their items to many potential buyers.[1] [2] [3] [4] Sellers and buyers can be individuals, organizations etc.

Items are commonly placed at an online auction site. Buyers can continuously bid for the items they are interested in. Eventually the highest bidder wins the item.

Two types of forward auctions are common. The first is a liquidate auction. Here buyers seek to obtain the lowest price for an item they are interested in. The second type is a marketing efficiency auction. Buyers wish to obtain a unique item.

Notes and References

  1. Book: Turban . Efraim . Information Technology Management: Transforming organizations in the digital economy . 2006 . John Wiley and Sons, Inc. . U.S.A..
  2. Book: Ganguly . D. . Chakraborty . Samit . 2008 Ninth ACIS International Conference on Software Engineering, Artificial Intelligence, Networking, and Parallel/Distributed Computing . E Commerce - Forward and Reverse Auction - A Managerial Tool to Succeed over Business Competitiveness . 2008 . 447–452 . 10.1109/SNPD.2008.51. 978-0-7695-3263-9 . 7466904 .
  3. Book: Preist . Chris . Bartolini . Claudio . Byde . Andrew . Proceedings of the 4th ACM conference on Electronic commerce . Agent-based service composition through simultaneous negotiation in forward and reverse auctions . 2003 . 55–63 . 10.1145/779928.779936. 158113679X . 1868153 .
  4. Friedrich . Michael . Ignatov . Dmitry . General Game Playing B-to-B Price Negotiations . CEUR Workshop Proceedings . 2019 . 2479 . 89–99 .

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