Dictionary :: Auctions

Glossary of game theory terms.

Button Auction

A form of a Japanese auction (which is a form of an English auction) in which bidders hold down a button as the auctioneer regularly raises the current price. Bidders irrevocably release the button when the current price exceeds their willingness to pay. The auction concludes when only one bidder remains and all others have released the button.

updated: 12 August 2005
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